The FBI's recent report reveals that total losses from crypto-related cybercrime in the US surpassed $5.6 billion in 2023, marking a staggering 45% increase from the previous year. As reported by the IC3, more than 69,000 complaints were recorded, primarily from individuals aged 60 and above, underscoring a pressing concern about the vulnerabilities faced by older generations in the digital age. Investment scams emerged as the principal drivers of these losses, with scammers preying on those seeking quick returns on investments.
Christopher Wray, FBI director, stated, 'Scams targeting investors who use cryptocurrency are skyrocketing in severity and complexity.' He emphasized the necessity of reporting scams to ic3.gov, noting that this helps the FBI track emerging schemes and technologies used by criminals. Reporting, even in cases without financial loss, plays a crucial role in informing the FBI's strategies to combat cybercrime in the rapidly-evolving crypto landscape.'
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