Cryptocurrency Scam Statistics
Reported losses and complaint volumes for cryptocurrency-enabled fraud, drawn from FBI IC3 and FTC official reports.
Last reviewed: 1 June 2026
Cryptocurrency scams exploit the speed, irreversibility, and pseudonymity of digital asset transactions. Fraudsters use crypto as both a payment method and a lure, promising extraordinary returns through fake trading platforms. The FBI's Internet Crime Complaint Center reported a dramatic rise in crypto-related crime in 2024, with losses totalling $9.3 billion — a 66% increase over 2023.
Officially recorded figures almost certainly understate the true scale. Many victims do not report because they feel shame, do not know where to report, or simply do not realise they have been defrauded until long after their funds have been moved through multiple wallets and become practically unrecoverable. Blockchain analytics firms consistently find that on-chain data shows far higher flows to fraud addresses than official complaint figures suggest.
Key figures
$9.3 billion across nearly 150,000 complaints in 2024 — a 66% increase over 2023
Total losses involving cryptocurrency reported to FBI IC3 (US)
Source: FBI IC3 2024 Annual Internet Crime Report (2024)
$5.8 billion in losses across 41,557 complaints — a 47% increase over 2023
Crypto investment fraud losses reported to FBI IC3 (US)
Source: FBI IC3 2024 Annual Internet Crime Report (2024)
Over 56% of the record $16.6 billion in total reported 2024 IC3 losses involved cryptocurrency
Share of total 2024 IC3 losses attributable to crypto-related fraud
Source: FBI IC3 2024 Annual Internet Crime Report (2024)
People aged 60 and over suffered nearly $5 billion in crypto-related fraud losses in 2024
Older adults and crypto fraud losses (US)
Source: FBI IC3 2024 Annual Internet Crime Report (2024)
Key takeaways
- Americans reported $9.3 billion in cryptocurrency-related fraud losses to the FBI IC3 in 2024 — the highest ever recorded and a 66% jump over 2023.
- Crypto investment fraud, often using pig-butchering tactics, accounted for $5.8 billion of those losses across more than 41,000 complaints.
- Older adults aged 60 and over bear a disproportionate share of losses, accounting for nearly $5 billion in reported crypto fraud.
- Because cryptocurrency transactions are largely irreversible, recovery rates for victims are extremely low, and significant under-reporting is assumed by researchers.
Frequently asked questions
Why are cryptocurrency fraud losses rising so fast?
Several factors drive the rapid increase: the irreversibility of most crypto transactions gives fraudsters an advantage; sophisticated pig-butchering operations run by organised crime have scaled dramatically; and crypto allows cross-border transfers that complicate law enforcement recovery. The FBI IC3 reported a 66% year-on-year jump to $9.3 billion in 2024.