Americans lost $5.6 billion in cryptocurrency scams in 2023, according to a new report released by the FBI on Monday.
For the first six months of 2024, the FBI received over 18,000 complaints reporting crypto-investment scams, with losses of more than $1.9 billion.
The report found that people over 60 years old were the most scammed: they lost nearly $1.6 billion in 2023. Fraudsters also give "detailed" directions on how to go to a cryptocurrency kiosk and deposit cash and transfer it to a scammer's crypto wallet, he noted. "They're coming into your bank and saying they need cash for that home renovation project does it make sense that they keep coming in and taking out significant amounts of money, even when some of them, the elderly folks, may live in a nursing home," Barnicle said.
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