Losses from crypto fraud rose 45% to $5.6 bn in 2023, Indians lose $44 mn

The FBI has reported a significant increase in cryptocurrency-related fraud in the United States. Losses from these scams surged by 45% in 2023, reaching over $5.6 billion.

Following a crypto market downturn in 2022, token prices began to rally last year, triggering renewed interest from criminals. Bitcoin more than doubled last year, and has risen about 35% in 2024.