“Pig butchering” scams— or investment scams— have overtaken all others as the biggest digital threat, according to the FBI's annual “Internet Crime Report,” released today.
, released today for incidents in 2022, “investment” scams have overtaken all others as the biggest digital threat, with $3.3 billion in losses last year.
The $3.31 billion of overall investment scam losses in 2022 compares with $1.45 billion in 2021, an increase of 127 percent. And the FBI notes that cryptocurrency investment scams specifically caused losses of $2.57 billion in 2022, up from $907 million in 2021—an increase of 183 percent. The figures seem to reflect IC3's efforts to quickly adjust its understanding of how these scams are operating amidst pig butchering's sudden rise. But it's hard to get a definitive picture, since it depends on how you categorize the different types of scams. For example, romance scams dropped from 24,299 complaints in the 2021 report to 19,021 in 2022. The associate losses dropped from $956 million to $736 million.
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