【psychological eroticism】

Cryptocurrency may not be psychological eroticismin the spotlight like during the 2021 to 2022 crypto boom, but that doesn't mean the money isn't flowing. Cybercriminals are still utilizing crypto to generate billions of dollars in fraudulent income each year.

In fact, according to the FBI, 2023 was the most lucrative year yet for cryptocurrency scammers.

SEE ALSO: New online scam claims to have proof your spouse is cheating on you

A new FBI report releasedon Monday says more than $5.6 billion in losses were reported in 2023 as a result of cryptocurrency scams. The data comes from more than 69,000 complaints the FBI’s Internet Crime Complaint Center received last year. 

---

You May Also Like

---

---

Crypto scams reported to the FBI over the years. Credit: FBI

Crypto scams bigger than ever before

The FBI's cryptocurrency scam report is especially interesting since 2023 was the first full year following the crypto boom. The crypto industry was shaken up in 2022 when a number of crypto tokens collapsed following the downfall of large crypto firms like Celsius and Terraform Labs. Then in November 2022, one of the largest crypto exchanges, FTX, went bankrupt. While some crypto tokens and blockchain-based companies have since bounced back, the industry has yet to recover its mainstream appeal.

Cryptocurrency scams, however, appear to be going stronger than ever before. The FBI's 2023 cryptocurrency report shows that crypto scams grew 45 percent compared to the year before.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

In fact, 2023 losses from cryptocurrency scams now make up more than half of the total number of losses from all online scams from the FBI's 2022 report.

According to the FBI, investment fraud is the biggest of the cryptocurrency scams. The report found that crypto investment scams specifically increased by 53 percent, with $3.96 billion in losses compared to 2022's $2.57 billion. 

Different types of scams affected age demographics differently. For example, those in the 30-39 and 40-49 age groups were most affected by crypto investment scams. However, the most complaints reported and overall loss totals were from those over 60. According to the FBI, more than $1.6 billion in crypto-related scam losses came from the over 60 age group.

Of course, the likely total of crypto scam losses is much higher than what's in the FBI report as the agency can only include data sent to them by the victims.

"Scams targeting investors who use cryptocurrency are skyrocketing in severity and complexity,” said FBI Director Christopher Wray in the bureau's statement on the report. "The best way to help stop these crimes is for people to report them to ic3.gov, even if they did not suffer a financial loss. The information allows us to stay on top of emerging schemes and criminals’ use of the latest technologies, so we can keep the American public informed and go after those who commit these crimes."

Topics Cybersecurity Cryptocurrency

• Shopping
• Entertainment
• Science
• Games
• Tech
• Social Good
• Digital Culture
• Life

• Best security deal: Take 25% off the Wyze Cam Pan V3
• PSA: Be careful where you spit your sunflower seed shells
• Moto P30 is the most ridiculous iPhone X copy yet
• Anki's wild journey from WWDC star to consumer robot innovator
• Building a 4K Ultra HD Gaming PC
• Man catching a breeze on a subway grate is the king of summer
• MoviePass' owner lost a lot of money last quarter, and it's also getting sued
• Archeologists find the world's oldest cheese in Egyptian tomb
• Albania announces one
• A ramen thief stole a trailer with almost $100,000 worth of noodles inside

• Crush by Kathryn Davis
• Wolf Moon by Nina MacLaughlin
• Cooking with Dorothy Sayers by Valerie Stivers
• Redux: All the Green Things Writhing by The Paris Review
• By Your Name by Madeleine Schwartz
• Redux: Be My Camera by The Paris Review
• Redux: Literary Gossip by The Paris Review
• Redux: Like No One Else by The Paris Review
• Walk Worthy by Eloghosa Osunde
• Redux: The Best Time for Bad Movies by The Paris Review

• SpaceX is so close to turning its rocket headquarters into an actual city
• Men gaze lovingly at their beer belly babies in new German ads
• 'Castle Rock' is maybe about alternate realties & a screaming universe
• Forget Supreme: Wikipedia
• Utah Jazz vs. Los Angeles Clippers 2024 livestream: Watch NBA online
• Facebook birthday fundraisers rake in $300 million in first year
• 'Diablo 3' invades the Nintendo Switch this fall
• The baking Pacific Ocean is changing Southern California's weather
• Best free ChatGPT courses
• Fans are stanning Ariana and Pete after listening to *that song* on 'Sweetener'

• AI action figure trend: What it is and how to make yours
• Alexa and Cortana integration now available on Windows 10 and Echo
• Lisa Frank wants to help you relive '90s magic with an adult coloring book
• 'Crazy Rich Asians' can't be all things to all people, and that's okay
• Best work from home deal: Save 33% on the FlexiSpot H7 desk at Amazon
• My destructive, addictive relationship with 'World of Warcraft'
• 'Jurassic Park' returning to theaters for 25th anniversary
• Kylie Jenner and Tyga are back together, for better or for worse
• Best MacBook deal: Get $200 off 2024 Apple MacBook Air
• Driver disguised like a seat was for Ford's self