FBI Report: Crypto Investment Scams Drive Record Losses in 2025

The FBI Internet Crime Complaint Center has released its latest annual report, showing a sharp rise in cybercrime losses — with cryptocurrency investment scams at the center of the surge.

In 2025, IC3 received more than 1 million complaints, marking the highest level in its 25-year history. Total reported losses reached $20.8 billion, up significantly from previous years.

Investment-related fraud remained the largest category, accounting for over $8.6 billion in losses. Cryptocurrency was the dominant factor, representing around 72% of all investment scam losses.

Crypto scams become the primary threat

According to the report, crypto-related fraud generated over $11 billion in losses across more than 180,000 complaints. These scams often involve fake investment platforms, impersonation, and long-term social engineering tactics.

One of the most common methods is the so-called “pig butchering” scam, where victims are approached through social media or messaging apps. Scammers build trust over time before introducing fraudulent crypto investment opportunities. Victims may initially see fake profits or even withdraw small amounts, encouraging larger deposits before funds are ultimately stolen.

Older investors hit hardest

The report highlights that individuals aged 60 and above suffered the highest losses. This group reported $4.4 billion in crypto-related losses alone, with total losses across all scam types reaching $7.8 billion.

Many cases involve large individual losses, with thousands of victims reporting losses exceeding $100,000.

Underreporting remains a major issue

Despite the scale of the problem, reporting rates remain relatively low. Many victims do not contact law enforcement, limiting recovery efforts and reducing visibility into the full extent of the fraud.

IC3 noted that quick reporting can significantly improve the chances of fund recovery. Its Recovery Asset Team was able to freeze approximately $679 million in attempted losses in 2025, with a success rate of around 58%.

A growing and evolving risk

The report also points to the increasing role of technology, including AI, in enabling scams. Fraudsters are becoming more efficient in targeting victims and creating convincing narratives.

Overall, the findings indicate that cryptocurrency investment scams are no longer isolated incidents, but a rapidly expanding global threat affecting a wide range of investors.