The FBI has released its annual report, highlighting a significant rise in cryptocurrency scams and losses reaching a staggering $9.3 billion. This alarming figure represents a concerning trend of digital deception targeting cryptocurrency users, particularly the elderly, who often bear the brunt of financial loss. Victims were largely unaware that they were being exploited, leading to substantial losses amounting to $2.8 billion. 4,300 victims have been identified by the FBI’s Virtual Asset Unit, with over 76% remaining unaware until contacted. The agency’s successful efforts in preventing further losses through Operation Level Up illustrate the potential of proactive victim outreach and timely intervention. Despite these revelations, cryptocurrency markets showed no immediate reaction to the report, with Bitcoin and Ethereum prices remaining largely stable. The report sheds light on the vulnerability of cryptocurrency users, especially those aged over 60, to sophisticated scams. Future focus will likely shift toward enhancing security measures within cryptocurrency exchanges and promoting robust educational initiatives aimed at vulnerable groups.