In 2025, Americans lost more money to cryptocurrency scams than to any other type of cybercrime, according to the Federal Bureau of Investigation’s (FBI) 2025 Internet Crime Complaint Center (IC3) report.
The annual report revealed that scams involving digital assets accounted for roughly $11.36 billion in reported losses across more than 181,000 complaints, far outpacing traditional fraud categories and marking a record high in financial harm attributed to crypto crime. These losses were part of a larger surge in cybercrime, with total reported internet crime losses nearing $21 billion for the year.
Jose Perez, Operations Director for the Bureau’s Criminal and Cyber Branch, gave a stark view of how quickly the situation has escalated. “Since our founding, reporting to IC3 has surged. We received a few thousand complaints per month in our early days. We now average almost 3,000 complaints per day," he said.
Crypto scams have become the most financially damaging form of cybercrime because the perpetrators tap into the unique characteristics of digital money: transactions are typically irreversible, global, and difficult to trace, while blockchain technology offers anonymity that fraudsters have learned to exploit effectively. This combination has made digital assets an ideal tool for scammers looking to extract large sums quickly from unsuspecting victims.
Jemi Motesho
Crypto Investment Scams: The Biggest Source of Losses
Within the broader category of cryptocurrency scams, investment fraud was the single largest contributor to financial damage. The FBI reported that investment scams accounted for roughly $7.2 billion of the total crypto scam losses in 2025.
These scams often involve fraudsters posing as credible financial advisors or investment platforms and convincing victims that they will make significant returns on crypto investments. Once victims transfer money into these fake platforms or wallets, they are unable to withdraw funds, and the scammers disappear.
This pattern is sometimes known in the field as “pig butchering,” a term for schemes where fraudsters build a relationship or trust with a victim over time before persuading them to commit large amounts of money.
An independent report by Chainalysis estimated that global crypto scams and fraud could total even more than what was reported to the FBI, showing a broader ecosystem of deception that transcends borders.
Older Americans Lose Most, Crypto ATM Scams Surge
One of the most tragic patterns revealed in the FBI’s findings was the disproportionate impact of crypto scams on older Americans, especially those aged 60 and above. This age group suffered nearly $4.4 billion in losses, accounting for roughly 40% of the total losses from crypto scams in 2025.
These victims often lose life savings or retirement funds because scammers exploit emotional trust, authority, or a lack of familiarity with digital technology.
Among the most damaging tactics aimed specifically at older adults were crypto ATM fraud schemes. In these scams, perpetrators impersonate authority figures, such as law enforcement or bank officials, and direct victims to use cryptocurrency ATMs to send funds to fraudulent wallets. Once the transaction is made, it becomes nearly impossible for victims to recover their money because blockchain payments cannot be reversed.
According to Business Insider, more than $333 million was lost to Bitcoin ATM fraud in 2025, as scammers focused on exploiting kiosks to move funds quickly and anonymously. These scams also often involve high-pressure phone calls or fabricated emergencies that coerce victims into acting without verifying the legitimacy of the request.
Research by consumer protection agencies has shown that this pattern of targeting seniors extends beyond crypto phishing. Older adults have long been a focus of various financial scams because they often hold savings and are seen as more trusting, making the surge in crypto ATM fraud especially dangerous.
AI and Impersonation: How Tech Makes Scams Worse
Another unmistakable trend in the 2025 FBI report was the use of artificial intelligence to amplify scam effectiveness. For the first time in its 25-year history, the IC3 report included a dedicated section on AI-linked complaints, noting that 22,364 such reports were submitted in 2025 and that these complaints resulted in nearly $893 million in losses.
Criminals are using AI to create deepfake videos, generate fake voices that mimic real people, and automate highly convincing social media interactions. These tools help scammers impersonate CEOs, celebrities, family members, or financial advisors, making fraudulent messages look authentic and persuasive.
Many scams begin with an AI-generated message that seems personal or urgent, tricking people into believing that they are acting on legitimate advice or information.
Minors and Crypto: A Growing Concern
While older individuals bore the largest financial losses, the FBI also reported a worrying rise in crypto-related fraud complaints involving minors, with victims under age 18 filing a notable share of reports. According to the 2025 IC3 data, victims under 20 years old submitted roughly 31,254 complaints across cyber-enabled crimes, reporting losses of about $67.1 million.
Although total losses in this age group were significantly lower than the approximately $7.7 billion reported lost by Americans aged 60 and above, the fact that children and teenagers are being targeted at all signals a troubling shift in the demographics of cybercrime victims and highlights how early exposure to digital finance can come with serious risks.
Scammers use social media platforms, online games, and gaming communities to lure younger users into fraudulent crypto schemes, often under the guise of quick profit or “free token giveaways.”
Jemi Motesho
