FBI Internet Crime Report Shows Crypto Investment Scams Skyrocketing
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FBI Internet Crime Report Shows Crypto Investment Scams Skyrocketing

Not only were crypto investments scam reports up 150% in 2022, they accounted for three quarters of all investment scams reported.

FBI Internet Crime Report Shows Crypto Investment Scams Skyrocketing

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The FBI saw a big jump in crypto investment scams last year, jumping from $907 million in 2021 to $2.57 billion last year.

The FBI's Internet Crime Report 2022, released this week, also found that crypto-focused investment scams accounted for more than 77% of all investment scams reported to its Internet Crime Complaint Center (IC3).

That spurred the agency to issue an alert this week, warning of a "spike in cryptocurrency investment schemes." The FBI said:

"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."

More than 31,000 such crimes were reported, with people ages 30 to 49 the most common victims, it added.

Among the most common schemes were those focused on liquidity mining, hacked social media and celebrity impersonations. Scams targeting real estate professionals and jobseekers were also popular.

While the FBI said the number of reported ransomware attacks had decreased, "we know not everyone who has experienced a ransomware incident has reported to the IC3," said Timothy Langan, executive assistant director of the FBI.

The agency added that it believes "ransomware remains a serious threat to the public and to our economy," he added.

It's worth noting that the report only covers crimes reported to the IC3, which is likely why blockchain intelligence firm Chainalysis reported a far higher number, $5.9 billion, when it came to losses caused by crypto scams in 2022.

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