As of May 2025, cryptocurrency scams have continued to escalate, with significant financial losses reported globally.

Global Losses in 2025

In the first quarter of 2025 alone, over $1.5 billion was stolen through cryptocurrency-related crimes, marking a 300% increase compared to previous periods. Notably, a $1 billion theft from the Bybit exchange became the largest crypto heist to date. Despite these staggering figures, only 0.4% of the stolen funds have been recovered, underscoring the challenges in combating crypto-related cybercrime .

U.S. Losses in 2024

In 2024, Americans reported a record $9.3 billion in losses to cryptocurrency-related scams, a 66% increase from the previous year. Individuals over the age of 60 were the most affected demographic, accounting for approximately $2.8 billion in losses. Investment fraud and tech support scams were among the most prevalent types of crypto crimes .

Factors Contributing to the Surge

The rise in crypto scams can be attributed to several factors:

Advancements in Technology: Scammers are leveraging generative AI to create more convincing fraudulent schemes, making scams more scalable and harder to detect . 
Lack of Regulation: The rapid growth of the cryptocurrency market has outpaced regulatory measures, leaving investors vulnerable to fraud.
Targeting Vulnerable Individuals: Scammers often prey on individuals with limited understanding of cryptocurrency, exploiting their trust and lack of awareness.