The FBI’s Internet Crime Complaint Center (IC3) reports a concerning surge in crypto scams in the US, with losses skyrocketing 66% to $9.3 billion in 2024 alone compared to the previous year’s $5.6 billion. Over 140,000 complaints have been filed, but authorities believe the actual losses could be even higher due to underreporting and outdated reporting systems. The report highlights that seniors aged 60 and above are particularly vulnerable, representing a majority of victims, with over 33,000 cases resulting in more than $2.8 billion in losses. Scammers target this demographic by exploiting their lack of familiarity with digital assets, employing tactics like fraudulent crypto ATM schemes which led to nearly $107 million in losses involving over 2,700 seniors. Furthermore, fake investment opportunities driving a significant portion of the losses at an alarming $1.6 billion, as scammers continue to evolve their strategies. The FBI urges citizens to stay vigilant by avoiding unsolicited investments and reporting suspicious crypto activity. Remember: if it sounds too good to be true, it probably is.