The U.S. Federal Bureau of Investigation said reported cybercrime losses by Americans in 2025 were close to $21 billion, with cryptocurrency-related complaints totaling 181,565 and losses exceeding $11 billion. The figures were disclosed alongside fresh criticism from New York Attorney General Letitia James, who warned in congressional testimony on July 27 that the CLARITY Act could shift primary oversight of digital assets to the Commodity Futures Trading Commission and weaken states’ authority to investigate fraud and hold crypto firms accountable. James said crypto platforms should meet anti-money laundering, know-your-customer, cybersecurity, and market surveillance requirements, and should bear financial responsibility for preventable fraud. She also said her office has seen crypto fraud complaints nearly triple over the past three years, while related losses over the past five years have approached $500 million.
The Federal Bureau of Investigation said Americans reported close to $21 billion in cybercrime losses in 2025. Of that total, cryptocurrency-related complaints reached 181,565, with losses exceeding $11 billion.
James raises concerns over the CLARITY Act
In congressional testimony on July 27, New York Attorney General Letitia James said the CLARITY Act would place primary oversight of digital assets with the U.S. Commodity Futures Trading Commission, or CFTC. She said that change could weaken states’ ability to investigate fraud and hold cryptocurrency companies accountable.
Call for stronger platform obligations
James said crypto platforms should comply with anti-money laundering, know-your-customer, cybersecurity, and market surveillance requirements. She also said platforms should bear financial responsibility for fraud that could have been prevented.
According to James, her office has seen cryptocurrency fraud complaints nearly triple over the past three years. Losses tied to those cases have approached $500 million over the past five years.
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