The recent FBI report stated that a majority of investment losses were made through crypto-related frauds in the USA in 2023. According to a recent report released by the Federal Bureau of Investigation (FBI), investment losses involving cryptocurrency significantly increased in the year 2023.

The report revealed that the losses rose from $2.57 billion in 2022 to around $3.94 billion in 2023, representing a 53% increase. The FBI’s report also indicated that cybercriminals are increasingly targeting cryptocurrency investors and exchanges, leading to a rise in financial fraud and other types of cybercrime. As a result, investors must exercise caution and take necessary security measures while investing in cryptocurrency.

In the year 2023, investment fraud caused a staggering loss of $4.57 billion in the nation. Shockingly, the losses due to crypto-related fraud alone amounted to around $3.94 billion, which accounts for almost 86% of the total investment fraud losses.

This highlights the alarming trend of crypto-related fraud and the need for investors to exercise caution and due diligence while investing in the crypto market.

Crypto scams are becoming increasingly common and are causing significant financial losses for many people. One of the most cunning tactics used by scammers is the romance scam. The scammer creates a fake online identity to gain the trust and affection of the victim. They use this trust to convince the victim to send cryptocurrency, often by creating a believable story.

Once the victim sends the crypto, the scammer disappears without a trace, leaving the victim with no recourse. It’s a heartbreaking and deceitful tactic that can have devastating financial consequences for those who fall victim to it.