Crypto Scams Are Making a Killing—And No One’s Talking About It!

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Alright, folks. You know the deal—crypto scams are having a banner year, and guess who’s leading the charge? The FBI, of course. The agency just dropped a bombshell report showing that more than 50% of all crypto losses in 2024 are thanks to, you guessed it, investment scams. Who’s surprised? Not me.

Cybercrime involving crypto? Yeah, it’s through the roof. A record $16.6 billion in losses from internet crime in 2024. That’s up 33% from 2023. And how much of that is tied to crypto scams? A cool $9.3 billion. That’s a 66% increase. Is anyone surprised that scammers are going all in on the digital gold rush? No. But it’s still kind of… amazing to see the numbers.

And get this: the FBI, in their usual understated way, says crypto was at the center of it all. Nearly 150,000 complaints about crypto scams in 2024. That’s a lot of angry people. And who can blame them? You try explaining to grandma that the investment she thought was going to pay for her cruise to the Bahamas is actually just some jerk’s get-rich-quick scheme.

Now, what’s doing the most damage? Investment scams. Oh, surprise, surprise. These “pig butchering” scams where fraudsters fake relationships, get you all cozy, then suggest you invest in their crypto nonsense. All for a nice little chunk of your retirement savings. $5.8 billion in reported losses, to be exact. But sure, it’s fine. Nothing to see here, right?

And guess who’s getting hit hardest? Older Americans. Yeah, you didn’t see that one coming, right? People 60 and older lost over $2.8 billion. That’s the group that took the biggest hit. Which, to be honest, is kind of a sad commentary on the situation. But hey, the FBI is on it, right? They launched “Operation Level Up” in 2024. It sounds like a bad video game, but hey, they say they helped 4,300 victims. Except, uh, 76% of those folks had no idea they were being scammed when the FBI reached out. But sure, we’re all good here.

Meanwhile, blockchain forensic nerds at TRM Labs are taking notes on this scammy mess. Apparently, investment scams are still the “dominant” illicit activity on the blockchain in 2024. Well, of course they are. TRM’s research claims at least $10.7 billion in crypto funds have gone to fraudulent schemes. New phishing and scam websites popping up like weeds every month. QR codes, crypto ATMs, stablecoins like Tether’s USDT or DAI… you name it, scammers are using it. The best part? They’re doing it all with AI-generated faces, because why not? The future’s here, folks.

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2025-04-24 10:29