Americans Lost $5.6 Billion in Cryptocurrency Scams Last Year, FBI Says

The top five states for cryptocurrency fraud losses were California, Texas, Florida, New York, and New Jersey.

The Bitcoin logo appears on the display screen of a cryptocurrency ATM in Salem, N.H., on Feb. 9, 2021. Charles Krupa/AP Photo

Americans lost more than $5.6 billion to cryptocurrency fraud in 2023, a significant increase from previous years, according to a new report from the FBI.

The FBI’s Internet Crime Complaint Center (IC3) received more than 69,000 complaints involving cryptocurrency fraud, representing a 45 percent increase in losses compared to the previous year, the Sept. 9 report said.