FBI Reports Crypto Scams Cost Americans $11.4B in 2025

Specifically, the IC3 received 181,565 cryptocurrency complaints last year. That marks a 21% increase in complaints and a 22% jump in losses compared to 2024. As a result, crypto scams were the single largest category of financial losses in the entire report.

In total, cybercrime losses across all categories hit $20.877 billion in 2025. Cryptocurrency accounted for more than half of that figure. The IC3 also crossed 1 million total complaints for the first time, reaching 1,008,597.

Crypto Scams 2025: Investment Fraud Leads the Pack

Crypto investment fraud, often called “pig butchering,” generated the most damage. In fact, the FBI logged 61,559 complaints in this category, totaling $7.228 billion in losses. That represents a 48% increase in complaints and a 25% rise in losses year over year.

These scams typically follow a familiar pattern. Fraudsters contact victims through social media, dating apps, or text messages. They then move conversations to encrypted platforms and show fake profits on bogus trading apps.

Once victims deposit real funds, the money disappears. The FBI links many of these operations to organized crime networks in Southeast Asia. Because the scams are sophisticated, victims often do not realize they are being targeted until they try to withdraw funds.

Seniors Suffer the Heaviest Losses

Americans over 60 filed 44,555 crypto complaints and lost $4.43 billion. That accounts for roughly 39% of all crypto losses reported to the IC3 in 2025.

Within that group, 13,685 seniors specifically reported falling victim to crypto investment fraud. Their combined losses reached $2.76 billion. On average, each senior victim lost nearly $100,000.

Meanwhile, the 40-49 age group filed 29,749 complaints ($1.55 billion in losses), while the 50-59 group reported 25,453 complaints ($2.14 billion). In other words, losses scaled sharply with age, according to the IC3 report.

Crypto ATMs and Recovery Scams Also Add Billions

Crypto ATM and kiosk scams accounted for 13,460 complaints and $389 million in losses. That represents a 23% increase in complaints and, notably, a 58% jump in losses from the prior year.

Similarly, recovery scams generated 10,516 complaints and $1.4 billion in losses. In these schemes, fraudsters target people who already lost money and then demand upfront fees to retrieve stolen crypto. They often pose as government officials, lawyers, or recovery firms.

AI-Powered Crypto Scams on the Rise

The report also flags a growing role for artificial intelligence in crypto fraud. Specifically, the IC3 received 8,712 AI-linked crypto complaints, resulting in $741.6 million in losses.

Scammers now use deepfake videos, voice clones, and AI-generated profiles to build trust with victims. Because these tools are increasingly accessible, fraudulent schemes have become harder to detect.

Across all crime types, the FBI tracked over 22,000 AI-related complaints totaling $893 million. Consequently, the crypto subset accounted for the vast majority of that dollar figure, according to the FBI’s press release.

Top States for Crypto Losses

California led all states with $2.099 billion in crypto losses. Texas followed at $1.016 billion, while Florida came in at $914.5 million.

In addition, New York reported $593.4 million, and Oregon posted $545.9 million with a notably high average loss per complaint. International complaints from more than 200 countries added another $1.6 billion in reported losses, separate from the $11.4 billion domestic total.

FBI Response: Operation Level Up

In response, the FBI’s Operation Level Up, launched in 2024, proactively identifies victims of crypto investment fraud before they lose more money. By early 2026, the program had notified over 8,000 victims and helped prevent more than $500 million in additional losses.

During 2025, the operation notified 3,780 victims. Of those, 78% did not know they were being scammed at the time of contact. The FBI also launched Operation Winter SHIELD in 2026 to strengthen organizational digital security.

As a result, the bureau urges victims to report immediately at ic3.gov and to document everything, including scammer contacts, transaction details, and screenshots.

What Comes Next for Crypto Fraud Prevention

Overall, crypto-related losses have climbed from roughly $2.1 billion in 2021 to $11.4 billion in 2025. The trajectory shows no signs of slowing. In fact, each year since 2022, losses have accelerated faster than the previous year.

The FBI therefore warns against unsolicited investment offers, pressure to act quickly, and anyone demanding payment through crypto ATMs or QR codes. Recovery firms that promise to retrieve lost funds are almost always scams themselves.

Importantly, these figures are self-reported to the IC3 and likely understate the true scope of the problem. Many victims do not report losses because of embarrassment or the belief that recovery is impossible. The full 2025 IC3 Annual Report is available at ic3.gov.

This article is for informational purposes only and does not constitute financial advice.