In 2025, Americans lost a record $11.37 billion to cryptocurrency scams, according to the FBI’s Internet Crime Complaint Center (IC3). This amount is the highest ever reported in a single year and represents a sharp 22% increase compared to 2024. The rising losses show that crypto-related fraud is growing quickly alongside other internet crimes.
The FBI received 181,565 complaints about crypto scams in 2025. This was up by approximately 21% from 2024 numbers and made cryptocurrency the largest category of reported losses out of more than a million complaints in total. Overall, cyber-facilitated losses in the United States totaled $20.88 billion, meaning crypto fraud contributed more than 50% of all reported damages.
Investment scams were the main cause of these losses. The FBI reported 61,559 individual complaints linked to cryptocurrency investment schemes, causing $7.228 billion in damages. Scammers often use long-term strategies to trick victims, such as romance-based scams and unsolicited messages which eventually push people into fake investment opportunities.
Other scams also caused major losses. These included crypto kiosk and ATM scams, which accounted for hundreds of millions of dollars in losses, as well as recovery scams in which criminals target victims again in the wake of a prior theft, causing around $1.4 billion in damage. Extortion, impersonation and sextortion schemes were also common, with criminals increasingly asking for payment in cryptocurrency.
The people most affected were older Americans. Individuals above 60 years of age reported $4.43 billion in losses, the largest amount in all age brackets. California, Florida and Texas reported the highest numbers of complaints and overall losses, reflecting their large populations and frequent use of online finance tools.
Scammers are also changing their methods. They are now using artificial intelligence tools like deepfakes and voice cloning to impersonate people who are trusted. Social media, dating apps and text messaging are key ways scammers build trust prior to leading victims to fake crypto platforms. These techniques make scams more believable and harder to detect.
Globally, crypto scams are also rising. Chainalysis estimates that worldwide cryptocurrency scam activity climbed to no less than $14 billion in 2025, with projections suggesting over $17 billion. Criminals are drawn to crypto because transactions are irreversible, fast, and cross borders easily.
Law enforcement continues to fight these crimes. Efforts like Operation Level Up help identify victims and prevent further losses. However, recovery rates remain low, making prevention the most important strategy. Authorities advise people to carefully verify any investment opportunity and avoid sending cryptocurrency to unknown contacts.
With crypto fraud reaching new heights, staying alert and cautious is key to protecting money in the digital world. Firms in the crypto space, such as Marathon Digital Holdings Inc. (NASDAQ: MARA), may need to review their cybersecurity systems more frequently to enhance their protections against being targeted by cybercriminals.
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