FBI finds Americans lose billions to cryptocurrency scams
Americans lost more than $20 billion to cryptocurrency and other online scams in 2025, a 26% increase over the year before, according to the latest figures from the FBI.
Online fraud is rising fast. Scams that use cryptocurrency and artificial intelligence are getting smarter. This makes it hard for people, especially seniors, to tell what is real and what is a scam. The new FBI data shows these scams are becoming a bigger problem, and police are trying to fight back.
According to the FBI’s 2025 Internet Crime Report, nearly $11.4 billion of last year’s $20 billion in online scam losses came from cryptocurrency scams. Of that, $7.2 billion resulted from cryptocurrency investment scams.
The report also says that seniors are the most likely to lose money to scams. People ages 60 and older lost about $7.7 billion, which is 37% more than in 2024.
In 2025, the FBI received 81,565 cryptocurrency-related complaints, a 21% increase from 2024. These reports accounted for $11.4 billion in losses, with an average individual loss of $62,604. Over 18,500 complaints involved losses exceeding $100,000.
“Cryptocurrency investment scams are sophisticated long-term scams using psychological manipulation, the appearance of legitimacy, and exploitation of cryptocurrencies to deceive victims into investing large sums of money,” according to the report. “These scams are largely perpetrated by organized criminal enterprises based in Southeast Asia using victims of human trafficking as forced labor to run the scam operations.”
In a high-stakes scheme, scammers aggressively lure victims, urging them to transfer cryptocurrency to fraudulent investment platforms or apps. They quickly show victims fabricated profits and dangle the promise of loans, pressing them to invest even more. The moment victims attempt to withdraw funds, they are slammed with bogus taxes and fees, amplifying the devastation.
Then, in a final bid to get more money, some offer recovery scams to these victims.
“Victims are also targeted in recovery scams, claiming to help recover lost funds,” according to the report. “These scams are often devastating because they can leave victims with significant financial loss and emotional distress.”
The FBI wants everyone to use the “Take a Beat” method to spot scam warning signs.
“Resist pressure to act quickly and assess the situation before turning over money or personal information,” the agency warned.
People who are victims or may know victims of a fraud or scam should call their local FBI office or submit a complaint at ic3.gov as soon as possible.
Victims should document the name of the scammer, the company, the methods of contact, the dates of contact, the methods of payment, where funds have been sent, and a thorough description of the interactions.
Mostly Sunny
Latest News Stories
NIH plots investments in women’s health
Pritzker: ‘God was looking out for people’ in storm-damaged Kankakee County
Illinois Quick Hits: Correctional officer charged with sexual misconduct
24 AGs question funding of orgs refusing to remove climate agenda from judges manuals
Costco faces lawsuit as consumers seek refunds from invalid tariffs
Insurer won’t back Gori defense vs asbestos lawsuit fraud claims
With teachers union support, committee approves charter school mandates
Allstate can’t delete class action over alleged secret app tracking
Chicago voters view housing affordability as bigger issue than crime
New Illinois gun bill aims at glock switches; critics say it misses the real problem
Illinois quick hits: Cook County spends nearly $20 million on food, housing services; Chicago Teachers Union tells teachers, students to skip school; Russell Dickerson to play Du Quoin State Fair
Will County Officials Warn of Zoom Court Scam Targeting Defendants for Fraudulent Dismissal Fees
