Losses from crypto scams grew 45% in 2023, FBI says

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Losses from crypto scams grew 45% in 2023, FBI says - Channel News Asia

Quick Summary:

Losses from cryptocurrency-related frauds and scams increased 45 per cent in 2023 from 2022, totaling more than $5.6 billion, as scammers increasingly took advantage of the speed and irreversibility of digital asset transactions, the U.S.FBI said Monday.

That growth, however, has also increased the use of cryptocurrency by criminal actors, the FBI's Internet Crime Complaint Center said in a new report.

The FBI received the most complaints referencing cryptocurrency from people over the age of 60, with losses from that group amounting to more than $1.6 billion.