Domestic


The 2024 annual report from the Federal Bureau of Investigation (FBI) just revealed a concerning fact: elderly people in the U.S. (aged 60 and above) are the largest victims of crypto-related scams, with total losses nearing 3 billion USD, accounting for over 30% of total national losses, despite making up only about 17% of the U.S. population.



📈 Crypto scams have exploded in 2024


According to the FBI, the total losses from crypto-related scams in the U.S. reached a record 9.3 billion USD in 2024 – an increase of 66% compared to the previous year (5.6 billion USD).


Among them:



  • Elderly people have lost nearly 2.8 billion USD, many times more than other age groups.



  • Number of incidents reported by victims over 60 years old: 33,369 cases



  • Average loss per person: 83,000 USD – over 4 times the average of other online scams (only 19,372 USD).



#FBI also warns that the actual numbers could be much higher, as many victims are unable or afraid to report due to psychological reasons, health issues, or lack of technological knowledge.



🏧 New threat: Scams through crypto ATMs


One of the alarming trends over the past year is the spike in scams related to crypto ATMs – a relatively new and confusing payment method for the elderly.



  • The number of complaints related to crypto ATMs has increased by 99% in just one year.



  • 2,674 elderly people have reported losing a total of 107 million USD through this method.



Common method: Scammers often impersonate government employees, financial company representatives, or law enforcement, asking victims to withdraw money from their bank accounts, investments, or retirement funds, and then provide instructions to transfer money via crypto ATMs. Victims are often mentally pressured or deceived with fake legal reasons.



💼 Investment scams remain the biggest threat


Besides direct methods like ATMs, crypto investment scams remain the most common type for the elderly:



  • Losses from investment scams: 1.6 billion USD just for the over 60 age group.



  • These incidents often have complex scenarios, with fake websites, 'investment consulting experts', or virtual exchanges, causing many people to trust and send money.





🛡️ What has the FBI done?


To combat this wave of scams, the FBI has launched 'Operation Level Up' – a proactive program to verify, warn, and assist victims of crypto-related investment scams.


Results: The campaign has helped prevent estimated losses of about 285 million USD in just over a year of implementation.


However, this agency also emphasizes that self-protection and raising awareness among users – especially the elderly – is key to limiting risks from increasingly sophisticated scams.



🧠 Lessons for the crypto community and Binance users


Although the incidents occurred in the U.S., this is also a wake-up call for the entire global crypto market, especially for new users or the elderly in developing countries.


For Binance users, please note:



  • Never transfer money through crypto ATMs if asked by strangers, even if they claim to be law enforcement or technicians.



  • Always verify exchanges, projects, or individuals calling themselves 'investment experts' before making any financial decisions.



  • Explain and guide elderly relatives about the potential risks when approaching cryptocurrency, especially high-return investment schemes with unclear origins.





⚠️ Risk Warning:

Cryptocurrency is a promising field but also carries many risks, especially for users lacking technological knowledge or easily deceived by 'high-return' investment schemes. Crypto investment is not for everyone – always be cautious, regularly update your knowledge, and use reputable platforms to minimize risks.