Crypto Fraud Runs Rampant, Americans Lost $5.6 Billion Last Year To Scams
The FBI has published its Cryptocurrency Fraud Report for 2023, and the losses continue to mount, reaching 5.6 billion dollars, which is a 45% increase in comparison to 2022. Even though fraudulent cryptocurrency schemes only account for 10% of the complaints the Internet Crime Complaint Center (IC3) receives, the losses from these reports amount to a staggering 50% of the total revenue. The bulk of the fraud committed involved investment scams, which accounted for 71%