US crypto fraud losses hit $11.4B last year, up 22%

Crypto fraud losses in the United States reached $11.4 billion last year, a 22% increase from the prior year, CoinDesk reported, citing an FBI report. According to the report, the number of related cases rose by 21% to 181,565, with the average loss per victim amounting to $62,604. Approximately 18,600 victims lost more than $100,000 each. The FBI explained that organized crime groups based in Southeast Asia are using victims of human trafficking to conduct long-term, psychological investment scams.