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   <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>This marks a 45% increase from 2022. Although crypto-related complaints made up just 10% of total submissions. They accounted for nearly 50% of the financial losses reported.</strong></h4> 
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        <a href="https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3CryptocurrencyReport.pdf" target="_blank" rel="noopener">The FBI’s report</a> shows that individuals over 60 were the most frequent targets among the 69,000 crypto frauds last year. Let’s see more about this important news for crypto fraud.
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      <h6><strong>FBI Report: Seniors Most Targeted in Crypto Fraud</strong></h6> 
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<p>This age group alone lost almost $1.6 billion. Investment schemes were responsible for nearly 71% of the fraud cases, while call center fraud and government impersonation scams comprised about 10%.</p> 
<p><img decoding="async" class="wp-image-150315 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxgfghhjguuiiu-262x300.jpg" alt="" width="477" height="546" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxgfghhjguuiiu-262x300.jpg 262w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxgfghhjguuiiu-367x420.jpg 367w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxgfghhjguuiiu.jpg 466w" sizes="(max-width: 477px) 100vw, 477px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3CryptocurrencyReport.pdf" target="_blank" rel="noopener">FBI Report</a></strong></h6> 
<p>The majority of complaints and losses originated from the United States, although the FBI received reports from over 200 countries. Many victims fell prey to confidence schemes, where scammers build trust before defrauding their targets.</p> 
<p>Additionally, the FBI warned about labor trafficking, where individuals are lured into exploitative positions abroad, such as at call centers. These scams often involve “pig butchering,” where victims are promised returns on investments that turn out to be fraudulent.</p> 
<p><img decoding="async" class="wp-image-150316 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxcbvcvbghgh-250x300.png" alt="" width="480" height="576" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxcbvcvbghgh-250x300.png 250w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxcbvcvbghgh-350x420.png 350w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxcbvcvbghgh.png 441w" sizes="(max-width: 480px) 100vw, 480px"></p> 
<p>Play-to-earn scams also pose a significant threat. These schemes charge users for tokens needed to play online games but then freeze their wallets, trapping their funds. Another fraudulent activity involves businesses that falsely claim to recover lost cryptocurrency, further victimizing already defrauded customers.</p> 
<p>The report notes that cryptocurrency kiosks, or automated teller machines (ATMs), have become a popular tool for scammers. The FBI recorded 5,500 cases involving kiosks, resulting in over $189 million in losses.</p> 
<p><img decoding="async" class="wp-image-150318 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxcbnghjhgkjhki-291x300.png" alt="" width="554" height="571" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxcbnghjhgkjhki-291x300.png 291w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxcbnghjhgkjhki-408x420.png 408w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxcbnghjhgkjhki.png 439w" sizes="(max-width: 554px) 100vw, 554px"></p> 
<p>Scammers favor kiosks due to the anonymity they offer compared to traditional bank transactions. These cases included complaints about customer service issues, government impersonation, extortion, and romance scams.</p> 
<p>Deputy Assistant Director James Barnacle of the FBI’s Criminal Investigative Division told ABC News that recovering money lost through crypto kiosks is “slim.” He added that the FBI notifies individuals when it discovers they are victims of fraud. Of the 3,000 people notified this year, Barnacle noted that 75% were unaware they had been defrauded.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/fbi-5-6-billion-lost-to-crypto-fraud-in-2023/">FBI: $5.6 Billion Lost to Crypto Fraud in 2023</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

FBI: $5.6 Billion Lost to Crypto Fraud in 2023

Altcoin Buzz

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