Author: Lisa

Editor: Sherry

In April 2025, the FBI released the (2024 Cryptocurrency Fraud Report). This report is based on data collected by the FBI's Internet Crime Complaint Center (IC3) in 2024, analyzing the number of cryptocurrency-related complaints, the scale of losses, victim profiles, types of crimes, and asset recovery progress. This article will interpret the core contents of the report to help readers quickly grasp trend changes and enhance their awareness and prevention capabilities against complex cybersecurity threats.

(Click the original text at the end of the article to view the report)

Key Point One: 2024 Complaint Data

1. Overall Situation

In 2024, the IC3 received a total of 859,532 complaints, resulting in actual losses of $16.6 billion, a 33% increase compared to 2023. Among them, 256,256 complaints involved actual financial losses, with an average loss of about $19,372 per incident. Approximately 83% of the losses were caused by online fraud.

2. Cryptocurrency-related Situations

Cryptocurrency-related complaints reached 149,686, causing losses of $9.3 billion, a year-on-year increase of 66%. Among the victims, the 60 and older age group accounted for the highest proportion.

3. Age Group 60 and Over

This group submitted 147,127 complaints, reporting losses of $4.885 billion. The number of complaints increased by 46% year-on-year, and the loss amount increased by 43% year-on-year. Among them, 7,500 people reported losses of over $100,000, with an average loss of up to $83,000.

Key Point Two: Victim Group Analysis

1. Overall Age Distribution

  • Under 20: 17,993 complaints, losses of $22.5 million.

  • Ages 20-29: 71,399 complaints, losses of $540.1 million.

  • Ages 30-39: 108,899 complaints, losses of $1.4 billion.

  • Ages 40-49: 112,755 complaints, losses of $2.2 billion.

  • Ages 50-59: 84,540 complaints, losses of $2.5 billion.

  • Ages 60 and Over: 147,127 complaints, losses of $4.8 billion.

2. Cryptocurrency Victim Groups

In cryptocurrency investment fraud, the 60 and older age group had the most complaints (8,043 cases), with losses amounting to $1.6 billion, far exceeding other age groups. The 60 and older group, due to a lack of awareness against fraud and unfamiliarity with new payment methods like cryptocurrency ATMs, has become a primary target for scammers (2,674 cases, loss amount $107,206,251), and they also have the most complaints in extortion/sexual extortion (20,445 cases, loss amount $724,288,735).

Key Point Three: Crime Type Analysis

1. In terms of complaint volume

  • Phishing/Electronic Deception: 193,407 cases.

  • Ransom: 86,415 cases.

  • Personal Data Breach: 64,882 cases.

  • Chargeback/Transaction Failure Fraud: 49,572 cases.

  • Investment Fraud: 47,919 cases.

2. In terms of loss amount

  • Investment Fraud: $6.57 billion.

  • Business Email Compromise (BEC): $2.77 billion.

  • Technical Support Fraud: $1.46 billion.

  • Personal Data Breach: $1.45 billion.

  • Chargeback/Transaction Failure Fraud: $785 million.

3. Cryptocurrency-related Crimes

  • Most Complaints: Extortion (47,054 cases), Investment Fraud (41,557 cases).

  • Largest Losses: Investment Fraud ($5.8 billion), Personal Data Breach ($1.1 billion).

4. Main Fraud Types Encountered by People Aged 60 and Over

  • Most Complained Fraud Types: Phishing, Technical Support, Ransom, Personal Data Breach, Investment Fraud.

  • Fraud Types with the Most Losses: Investment Fraud, Technical Support, Romance Fraud, Business Email Compromise (BEC), Personal Data Breach.

Key Point Four: Online Fraud and Asset Recovery

1. Overall Situation of Online Fraud

In 2024, the IC3 received 333,981 complaints of online fraud, causing losses of $13.7 billion, accounting for 83% of the total annual losses. The main transaction methods include cryptocurrency, wire transfers, credit card payments, etc.

2. Typical Fraud Methods

  • Call Center Fraud: 53,369 cases, losses of $1.9 billion.

  • Emergency Fraud (Impersonating Relatives for Help): 357 cases, losses of $2.7 million.

  • Toll Road Fraud (SMS Phishing): 59,271 cases, losses of $129,000.

  • Gold Delivery Fraud: 525 cases, losses of $219 million.

3. Cyber Threats

263,455 complaints related to cyber threats caused losses of $1.571 billion. The main ransomware variants include Akira, LockBit, RansomHub, FOG, PLAY.

4. Asset Recovery Results

  • The FFKC team handled a total of 3,020 freeze requests, freezing $560 million, with a recovery success rate of 66%.

  • The 'Operation Level Up' successfully notified 4,323 cryptocurrency fraud victims, helping to recover approximately $285 million in potential losses.

  • Cooperating with Indian law enforcement to combat call center fraud, arresting 215 people, an increase of 700% year-on-year.

  • In financial fraud projects, successfully froze and recovered multiple large sums of money.

Key Point Five: Preventing Cryptocurrency Fraud

In light of the high incidence of cryptocurrency fraud, the FBI has proposed the following prevention recommendations:

  • Stay alert and avoid high-return temptations: high-yield, zero-risk investments are often scams.

  • Verify the legitimacy of trading platforms: use legitimate, regulated exchanges, and avoid clicking on unknown links in social media ads.

  • Avoid transferring money to strangers: do not trust 'investment mentors' or 'friends' met online.

  • Be cautious with cryptocurrency ATM transactions: scammers often ask victims to make payments via ATMs, so always be vigilant.

  • Use two-factor authentication (2FA): enhance account security and prevent hacking.

Summary

The FBI's (2024 Cryptocurrency Fraud Report) reveals new trends in cybercrime under the current cryptocurrency asset environment: a significant increase in cryptocurrency-related cases, with the elderly (60 and older) becoming the primary victims; fraud methods are highly specialized and internationalized, and cryptocurrency has become the preferred tool for criminals to launder and transfer funds.

Although asset recovery and international law enforcement cooperation have made some progress, from the overall scale of losses and growth trends, ordinary users still need to remain highly vigilant, effectively enhancing their security awareness to avoid falling into various fraud traps. For governments and financial institutions, continuously strengthening international cooperation, regulatory enforcement, and tracking the flow of funds will be key measures to curb cybercrime and improve enforcement efficiency.