Americans Over 60 Lost $2.84B to Crypto Scams in 2024, FBI Reports
The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) has reported a dramatic rise in cryptocurrency-related scams in 2024, with Americans aged 60 and older suffering the highest financial losses.
According to the report released Wednesday, the IC3 received 33,369 complaints from victims in this age group, with total reported losses amounting to $2.84 billion. Individuals between the ages of 40 and 49 were the second most affected demographic, reporting $1.46 billion in losses.
Crypto Investment Fraud Surges 47% Year-Over-Year
In total, the IC3 recorded 149,686 cryptocurrency-related complaints in 2024, reflecting a 66% increase from the previous year. The total financial losses from these complaints hit $9.3 billion, up from roughly $5.6 billion in 2023.
The most common scams included fraudulent investment opportunities, impersonation schemes, and crypto ATM scams, which alone accounted for $247 million in losses. Crypto investment fraud was the largest contributor, generating $5.8 billion in reported losses — a 47% year-over-year increase.
Older Adults Most Vulnerable
While crypto scams affect all age groups, seniors appear to be disproportionately targeted, likely due to a mix of less technical familiarity, retirement savings, and high trust in authority figures — a combination that scammers exploit through phishing, romance scams, and fake investment platforms.
FBI Urges Caution and Education
The FBI continues to advise individuals — especially older adults — to exercise caution when approached with unsolicited investment opportunities and to avoid sharing wallet access or personal financial information. The agency also encourages people to report suspicious activity directly to the IC3.
“Education is the most effective weapon we have in combating crypto-related fraud,” the IC3 noted in the report.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
