Key facts
- Crypto scams are estimated to have cost Americans $80.7 billion in 2025.
- The FBI reported $11.37 billion in crypto scam losses in 2025, a 22% increase from the previous year.
- Investment fraud was the largest category of scams, with estimated losses of $61.4 billion.
- Individuals over 60 lost $4.4 billion to crypto fraud.
- The FBI's Operation Level Up has prevented $500 million in scam losses.
- The Justice Department initiated its largest forfeiture action ever, seeking 127,271 Bitcoin valued at $15 billion.
Cryptocurrency scams are estimated to have cost Americans $80.7 billion in 2025, according to a report by the Consumer Federation of America (CFA). This figure represents more than half of all scam losses reported to the FBI, which logged $11.37 billion in crypto-related fraud, a 22% increase from the previous year. The CFA's estimate is derived by applying a 7.1x multiplier to the FBI's reported figures, based on a Bureau of Justice Statistics survey indicating that only 14% of fraud victims report to law enforcement. Ari Redbord of TRM Labs noted that the FBI's number captures only a portion of the total picture. Investment fraud emerged as the largest single category, with reported losses of $8.6 billion and an estimated total of $61.4 billion, marking a 32% increase. Across all scam types, the FBI received 1,008,597 complaints totaling $20.9 billion in reported losses, which the CFA scaled to an estimated $148.2 billion nationwide. Elderly Americans, defined as those over 60, were particularly hard-hit, losing $4.4 billion to crypto fraud alone. The FBI also reported $893 million in losses across 22,364 complaints related to AI-enabled crime for the first time. Law enforcement efforts, such as the FBI's Operation Level Up, have aimed to mitigate these losses by contacting potential victims, preventing an estimated $500 million in total, including $225.9 million in the past year. Cases involve both domestic and international fraudsters, with U.S. authorities establishing a Scam Center Task Force that seized approximately $25 million. Notable actions include the sentencing of an Oklahoma man for a $9.4 million crypto Ponzi scheme and the Justice Department's move to forfeit 127,271 Bitcoin, then valued at $15 billion, from Prince Group chairman Chen Zhi in what was described as the largest forfeiture action in its history. Prince Group has denied any involvement in scam operations. The CFA has also taken legal action, suing Meta over scam advertising on platforms like Facebook, Instagram, and WhatsApp. Ben Winters, CFA's director of AI and privacy, criticized tech companies for avoiding accountability and pointed to the bipartisan SCAM Act, which aims to prevent online platforms from displaying fraudulent advertisements.