Crypto Investment Scams Were the Most Costly Type of Fraud in the U.S. in 2025

Key Points:

• Americans lost $7.2 billion to crypto investment scams in 2025, making it the largest source of financial fraud losses reported to the FBI, though the actual figure is likely higher due to underreporting.
• The FBI's 2025 Internet Crime Complaint Center (IC3) report recorded over 1 million complaints and more than $20 billion lost to various online scams, with investment fraud accounting for 49% of complaints, mostly related to crypto scams.
• Crypto scammers often use fake websites and impersonation tactics via texts, social media, and dating apps to lure victims, showing false account balances to encourage further investments while preventing withdrawals through fabricated fees.
• For the first time, the FBI's IC3 report included a section on AI-assisted crimes, noting 22,364 complaints and $893 million lost, with scammers using AI-generated deepfakes and fake documents to impersonate figures like Elon Musk to deceive victims.
• Romance scams, also known as "pig butchering," remain prevalent, where scammers pose as attractive individuals to build trust and then push fraudulent crypto investment schemes.