Crypto-linked fraud losses in the US reached a record $11.4bn in 2025, cementing digital assets as the primary payment rail for large-scale investment scams, according to the FBI’s 2025 Internet Crime Complaint Centre (IC3) report.
Crypto Fraud Losses Top $11bn in 2025: FBI Report
8 April 2026 - 13:03 CEST
By Sandmark staff
The figure formed part of nearly $21bn in total cyber-enabled crime losses reported last year. Investment scams, many involving cryptocurrencies, accounted for the largest share. Cryptocurrency investment fraud alone generated $7.2bn in losses, the highest single category and a 25% increase from 2024.
Elderly victims bear brunt
Americans over 60 reported disproportionate losses, with crypto-related complaints showing victims in that age group suffering the heaviest financial impact. Overall, 181,565 crypto-linked complaints produced an average loss of $62,604, while 18,589 victims each lost more than $100,000.
Much of the activity stems from "pig butchering" schemes, in which scammers cultivate victims over weeks or months before steering them toward fake trading platforms. The IC3 report highlights sophisticated networks, often based in Southeast Asia and tied to organised crime, that sometimes rely on trafficked labour to operate the scam infrastructure.
Strike force seizes $580mn
Enforcement actions show authorities stepping up efforts, yet the problem scale remains daunting. In February, a US-led Scam Centre Strike Force froze or seized more than $580mn in cryptocurrency linked to transnational fraud networks targeting the same fake-platform ecosystem.
Crypto ATM and kiosk fraud also surged, with $389mn in losses, a 58% increase from 2024, indicating diversification beyond traditional investment schemes.
AI, analytics eyed to close gap
The continued growth in losses suggests enforcement alone cannot match the pace of criminal innovation. IC3 data portray cryptocurrency not merely as a store of value in these schemes, but as the dominant transaction layer for moving and obscuring funds rapidly across borders and chains.
Policymakers are pushing technology to bridge the gap. A US Treasury report to Congress in March urged banks and digital asset firms to expand use of artificial intelligence, blockchain analytics, and digital identity tools for detecting illicit activity. The report warned that digital assets continue to play an expanding role in financial crime, even as legitimate use cases proliferate.
Criminal groups exploit crypto’s speed and pseudonymous nature to route funds through multiple wallets and chains, making tracing difficult. The data indicate that crypto-enabled fraud has become embedded in a global scam economy.
