FBI: Crypto-Related Fraud Hit Record Levels in the U.S. in 2024

The U.S. Federal Bureau of Investigation (FBI), through its Internet Crime Complaint Center (IC3), released its annual report highlighting a sharp rise in crypto-related fraud cases and losses during 2024.

Published on Wednesday (April 23, 2025), the report shows that over 140,000 crypto-related complaints were filed last year, with total losses amounting to $9.3 billion. Among the hardest hit were senior citizens over the age of 60, with 33,000 reports and losses totaling $2.8 billion.

The FBI noted that total cybercrime losses for 2024 hit a record $16.6 billion, with crypto fraud being the largest contributor. Ransomware attacks continued to pose major threats to critical infrastructure, with a 9% increase in reported incidents compared to the previous year.

Compared to 2023, crypto fraud losses soared by 66%, rising from $5.6 billion to $9.3 billion. The most financially damaging scams were fake crypto investments, while the most reported scheme was sextortion—blackmail involving manipulated personal images or videos. Other fraud methods included crypto ATM scams and digital kiosks.

To combat this growing threat, the FBI launched an initiative called “Operation Level Up,” which successfully blocked $285 million in potential losses from January 2024 through January 2025.

AI-Fueled Crypto Scams on the Rise

A separate report by Chainalysis revealed that total global losses due to crypto crime in 2024 reached $40 billion, with estimated figures exceeding $51 billion or roughly Rp845 trillion.

One of the most significant incidents was the $1.4 billion hack on Bybit exchange in February.

The report also highlighted a surge in AI-driven scams, money laundering via stablecoins, and increasingly sophisticated cybercrime networks.

Chainalysis warned that 2025 could break all previous records for crypto fraud, especially as generative AI is increasingly exploited by criminals to execute scams more broadly and efficiently.