Crypto Scams Skyrocket, Bilking Americans out of Nearly $4 Billion in 2023

FBI report reveals staggering $3.94B lost to crypto scams in 2023, a 53% increase from 2022
Total losses from investment fraud hit $4.57B, with crypto scams making up majority
Fraudsters using custodial accounts at crypto exchanges and payment processors
Crypto scams accounted for over a third of total $12.5B internet crime losses
Events like Germany's $2B Bitcoin seizure, US govt selling $132.5M Bitcoin, and JP Morgan halting crypto transactions in UK underline growing concern over crypto crime