The surge in crypto scams continues to be a significant concern, with fraudsters employing increasingly sophisticated tactics. Here's a breakdown of the current situation and key trends:

Current State and Statistics:

* Growing Losses: Investment scams, heavily involving cryptocurrency, continue to be a major source of financial loss. In the first quarter of 2025, scammers collected $472 million in cryptocurrency, up from $336 million in Q1 2024. Crypto is the second-largest source of funds for scammers, after bank transfers