The Federal Bureau of Investigation (FBI) has revealed that Americans lost approximately$9.3 billion to cryptocurrency fraud in 2024. The figure marks a 66% increase compared to the previous year.

The data was published in the FBI's annual Internet Crime Complaint Center (IC3) report.

Individuals aged 60 and older were the most heavily impacted, accounting for$2.8 billion in losses across 33,000 complaints. Investment scams made up the largest share of monetary losses. 'Sextortion' scams, where fraudsters used manipulated explicit media, were the most frequently reported.

Despite efforts like the FBI's 'Operation Level Up', which helped prevent$285 million in potential fraud, experts warn that scams may continue to rise in 2025.

Chainalysis pointed to generative AI as a major enabler for cybercriminals, estimating$41 billion in global illicit crypto volume in 2024 alone.

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