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For those who may have been targeted by a crime or scam—whether or not it's crypto-related—the FBI encourages individuals to file a complaint with its Internet Crime Complaint Center (IC3).
According to the latest available data from the FTC, more than 46,000 people in the U.S. reported losing an accumulative $1 billion to crypto scams between January 2021 and June 2022. In 2021 ...
5. Romance Scams. Cryptocurrency romance scams have become a prevalent form of deception where fraudsters forge romantic ties to trick individuals into giving up their crypto assets.
The FTC noted 40% of people who lost money to a romance scam last year said the contact started on social ... To avoid dating scams, ... with investment scams, crypto is central in two ways: It ...
A pig butchering scam (in Chinese sha zhu pan [114] or shazhupan, [115] (Chinese: 杀猪盘), translated as killing pig game) [113] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme. [116]
Information can then be used to obstruct receiving legitimate payments [2] or phishing scams. [1] Victims are sent a token to their wallet via an airdrop. [3] When the victim attempts to cash out the token, the sender is able to access the wallet through the smart contract attached to the token. [4]
As the scam unraveled, investors were left with substantial losses, while the developers of Squid Coin disappeared from the public eye, taking an estimated $3.38 million with them. [3] [12] The project's website, which had previously been active, disappeared along with its social media accounts, further erasing any trace of its existence. [13]
The FBI's 2023 cryptocurrency fraud report highlights the rise in crypto investment scams. People over 60 reported the highest losses, with $1.6 billion lost to crypto fraud last year.