The U.S. Federal Bureau of Investigation's Internet Crime Complaint Center (IC3) reported that cryptocurrency-related losses hit a record $11.37 billion in 2025, surging roughly 22% from $9.3 billion in the prior year. The figure marks the highest annual total since the IC3 began tracking crypto fraud.
The agency logged 181,565 crypto-specific complaints in 2025, a 21% increase year-over-year. Among over 1 million total cybercrime complaints filed, crypto accounted for the single largest loss category, representing more than half of the total reported cyber-enabled losses of $20.88 billion.
Investment Scams Dominate the Landscape
Investment fraud remained the primary driver. The report details 61,559 complaints tied to crypto investment schemes, resulting in $7.228 billion in losses. These scams often rely on long-term social engineering tactics, including romance-based approaches or unsolicited messages that transition into investment pitches. Crypto ATM and kiosk scams also gained traction, triggering more than 12,000 complaints and hundreds of millions in losses.
Recovery scams, where victims are targeted again after an initial loss, accounted for roughly $1.4 billion in damages. Other categories include extortion, sextortion, and impersonation schemes, all increasingly using crypto as the payment method.
Seniors Hit Hardest
Demographic data reveals that older Americans carried the heaviest burden. Individuals aged 60 and older reported approximately $4.43 billion in crypto-related losses, the highest among all age groups. Geographically, California, Texas, and Florida led the nation in both complaint volume and total losses, reflecting larger populations and higher exposure to digital finance tools.
AI Tools Fuel New Fraud Wave
The report highlights a shift in scam tactics. Criminals are increasingly leveraging artificial intelligence (AI) tools such as voice cloning and deepfakes to impersonate trusted figures. Social media, text messaging, and dating apps remain primary entry points, often used to build trust before directing victims to fraudulent crypto platforms.
Blockchain analytics firm Chainalysis estimates global crypto scam activity reached at least $14 billion, with projections exceeding $17 billion. The appeal for criminals remains clear: crypto transactions are fast, irreversible, and operate across borders with limited friction.
Despite the scale of reported losses, the FBI notes these figures represent only a portion of actual damage, as reporting remains voluntary and incomplete. Parallel data from the Federal Trade Commission shows total U.S. fraud losses hit $15.9 billion in 2025, with investment scams accounting for nearly half.
Law enforcement continues coordinated efforts, including Operation Level Up, which helps identify victims and prevent additional losses. However, recovery rates remain low, and prevention remains the primary defense. Authorities urge users to independently verify investment opportunities and avoid sending crypto to unsolicited contacts.