The FBI’s Internet Crime Complaint Center (IC3) has released its annual report, revealing that cryptocurrency scams cost Americans more than $11 billion in 2025 — accounting for more than half of all reported internet crime losses for the year. The figure marks a staggering escalation in crypto fraud and underscores how the cryptocurrency ecosystem has become the preferred vehicle for sophisticated financial criminals globally.
How the Scams Work
The most prevalent schemes are investment fraud and romance scams — often intertwined in what the FBI calls “pig butchering” attacks, where fraudsters build emotional or investment relationships with victims over weeks or months before convincing them to transfer large sums of cryptocurrency to fake trading platforms. The platforms appear legitimate, show fabricated profits, and eventually disappear — along with the victims’ funds. Because cryptocurrency transactions are largely irreversible, recovery is rare.
Who Is Being Targeted
The FBI’s data shows that older Americans aged 60 and above accounted for the highest dollar losses of any demographic group, though younger adults between 30 and 49 filed the most complaints. Internationally, FBI field offices report that scam call centers in Southeast Asia, operating with trafficked labour, are driving a significant portion of the pig butchering operations targeting US and Western European victims.
What to Watch For
The FBI warns of several key red flags: unsolicited contacts on social media or dating apps who quickly pivot to investment advice; platforms that show consistent high returns; and requests to move funds to a specific crypto wallet or exchange you haven’t heard of before. “If you didn’t seek it out, and it sounds too good to be true, treat it as a scam,” the FBI’s Cyber Division stated in the report release. Reporting to ic3.gov remains the primary channel for victims.
Vibes Uncut Media covers financial safety and business news for African and global audiences.
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