Americans reported a record $ 9.3 billion in losses to cryptocurrency-related crimes in 2024, according to a report from the Federal Bureau of Investigation’s (FBI) Internet Crime Clake Center (IC3). The losses represent a 66% jump from 2023 and highlight the growing use of digital assets in online fraud schemes.

The annual IC3 report says that almost 150,000 complaints associated with crypto, with investment fraud at the forefront. In these schemes, scammers often pretend to offer high returns on fake cryptocurrency platforms that lure victims to transfer funds that are then sifoned away.

The FBI also highlighted “Pig Butching” scams where scammers build online conditions before pushing fake cryptoin investments. Crypto-investment schemes led to $ 5.8 billion in losses, while the second largest category with losses to $ 1.1 billion was data violations.

Older Americans carried the damage of the damage. People over 60 reported $ 2.8 billion in losses through crypto-related crimes-more than any other age group up from $ 1.65 billion in 2023 and $ 1.08 billion in 2022.

The second most affected age group, those aged 40-49, suffered $ 1.4 billion in losses, while under 40, they suffered losses of about $ 1.37 billion.

Over 8,000 of the complaints came from people over the age of 60 and related to false investment opportunities, while others fell victim to technical support fraud and imitation schemes that often involved cryptocurrency.

Operation Level Up, a government initiative launched in January 2024, identified thousands of victims of cryptoin -investment fraud and prevented an estimated $ 285 million in further losses under the report. It referred to 42 victims of suicide intervention.