Crypto Scams Hit Record $11.36 Billion in 2025, FBI Report Reveals

TLDR:

• Crypto scams reached a record $11.36B in 2025, marking a 22% rise from the previous year’s total.
• Americans over 60 lost $7.7 billion to cybercrime in 2025, a 37% increase compared to last year.
• AI deepfake and voice cloning scams stole an estimated $893 million from US victims during 2025.
• FBI’s Operation Level Up identified 8,000 victims and blocked over $500 million in further losses.

Crypto scams reached a record $11.36 billion in losses across the United States in 2025. The Federal Bureau of Investigation released its annual Internet Crime Report, confirming a 22% jump from the previous year.

Total cybercrime losses crossed $20.9 billion, also setting a new record high. The FBI logged over one million total complaints, averaging roughly 3,000 reports per day throughout the year.

Investment Scams and Senior Losses Drive Record Numbers

Crypto investment scams alone accounted for $7.2 billion of the total losses recorded in 2025. That figure represents the single largest share of all cryptocurrency-related fraud documented by the FBI. Overall, 181,565 crypto-related complaints were submitted to the agency during the reporting period.

Senior citizens continued to bear a disproportionate share of the financial damage. Americans over the age of 60 lost a combined $7.7 billion to cybercrime, marking a 37% increase year-over-year.

This age group remains the most frequently targeted demographic across all reported online fraud categories. The steep rise in losses among older Americans points to the growing reach of these criminal networks.

AI-powered fraud also emerged as a rapidly growing threat within the report. Deepfake technology and voice cloning tools were used to steal approximately $893 million from victims last year.

These tools give criminals the ability to impersonate trusted individuals using convincing audio and video. The use of such technology adds a new layer of difficulty for victims trying to detect fraud.

The breadth of these numbers reflects how fraud tactics continue to outpace public awareness in the crypto space. As digital asset adoption expands globally, criminal networks are scaling their operations accordingly.

Authorities continue to stress that reporting fraud promptly through IC3.gov remains a critical step in recovery efforts.

Pig Butchering Operations and the FBI’s Countermeasures

Most crypto investment scams traced back to organized crime groups operating out of Southeast Asia. These groups run large-scale schemes commonly referred to as pig butchering operations. Criminals spend weeks or months building genuine-seeming trust with targets before executing the fraud.

Initial contact is typically made through social media platforms, dating apps, and messaging services like Telegram.

Once a relationship is established, victims are directed to fake investment platforms displaying fabricated profits. When those victims eventually attempt to withdraw their funds, the money has already disappeared.

In response, the FBI launched Operation Level Up to directly address these types of investment scams. The operation has already identified more than 8,000 potential victims and prevented over $500 million in further losses.

This approach represents a more proactive stance from the agency in tackling crypto-related crime.

The FBI urges the public to treat all unsolicited investment messages with caution and skepticism. No legitimate platform or trader asks users to send cryptocurrency to an unverified wallet address. Victims and witnesses of suspected fraud are encouraged to file a report directly at IC3.gov.

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