FBI Says Crypto Investment Fraud Rose 183% to $2.57 Billion in 2022

FBI Says Crypto Investment Fraud Rose 183% to $2.57 Billion in 2022

The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike in cryptocurrency investment schemes.” FBI’s Crypto Crime Statistics

The Federal Bureau of Investigation (FBI) published its 2022 Internet Crime Report last week. The report is compiled using data from the agency’s Internet Crime Complaint Center (IC3) which “serves as a public resource to submit reports of cyberattacks and incidents,” the bureau described.

“In 2022, investment scams were the costliest scheme reported to the IC3. Investment fraud complaints increased from $1.45 billion in 2021 to $3.31 billion in 2022, which is a 127% [increase],” the FBI wrote, adding: Within those complaints, cryptocurrency investment fraud rose from $907 million in 2021 to $2.57 billion in 2022, an increase of 183%.

“Crypto-investment scams saw unprecedented increases in the number of victims and the dollar losses to these investors. Many victims have assumed massive debt to cover losses from these fraudulent investments and the most targeted age group reporting this type of scam are victims ages 30 to 49,” the report details.

The FBI also highlighted prevalent cryptocurrency investment scams in 2022, such as those related to liquidity mining, hacked social media accounts, celebrity impersonation, real estate professionals, and employment.

Following the release of its latest Internet Crime Report, the FBI issued a public service announcement Monday, warning the public of “a spike in cryptocurrency investment schemes.”

Citing data from IC3, the bureau explained: “Criminals, typically based overseas, defrauded victims of more than two billion U.S. dollars in 2022 using these schemes.” The announcement notes: The schemes are socially-engineered and trust-enabled, usually beginning with a romance or confidence scam and evolving into cryptocurrency investment fraud. Tags in this story FBI, FBI crypto, FBI cryptocurrency, FBI cryptocurrency fraud, FBI cryptocurrency investment fraud, FBI cryptocurrency scams, FBI internet crime report

What do you think about the FBI’s crypto fraud warning and crime statistics? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Report: Shanghai Bank Mulls Buying Silicon Valley Bank"s Stake in Chinese Subsidiary FEATURED | 17 hours ago Central Bank Digital Currency Transactions to Reach $213 Billion Annually by 2030, Research Shows FEATURED | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCourt Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Iran to Increase Penalties for Unauthorized Cryptocurrency Mining