Crypto scams in the U.S. are projected to cause losses of $80.7 billion by 2025, according to the Consumer Federation of America.
Key Findings
- In 2024, cryptocurrency scams accounted for over half of the $11.37 billion in total scam losses reported to the FBI.
- Using a multiplier of 7.1 for unreported fraud, the Consumer Federation of America estimates total losses could reach $80.7 billion by 2025.
- Investment fraud is the largest contributor, with losses surging 32% year-over-year.
A recent report from the Consumer Federation of America (CFA) forecasts that losses from cryptocurrency scams in the U.S. could exceed $80.7 billion by 2025, which would represent more than half of total scam losses.
This projection is based on FBI data showing that in the previous year, Americans lost $11.37 billion to cryptocurrency scams, a 22% increase from 2024. The CFA's estimates utilize a multiplier derived from a 2017 survey indicating that only 14% of fraud victims report their losses.
A CFA report states that Americans could lose around $148.2 billion annually to online scams, with over half attributed to cryptocurrency fraud.
— Consumer Federation of America (@ConsumerFed) July 28, 2026
The CFA applied a conservative multiplier of 7.1 to derive its estimates. Ari Redbord from TRM Labs emphasized that the FBI's figures are just a fraction of the true losses, as only about 15% of victims typically report incidents.
Investment fraud emerged as the most significant category, with reported losses reaching $8.6 billion and estimated total losses at $61.4 billion, marking a 32% increase from the prior year. Overall, the FBI recorded over 1 million complaints, resulting in reported losses of $20.9 billion across all scam categories, a 26% increase, leading to an estimated total loss of $148.2 billion, averaging about $1,009 per household.
Older adults, particularly those aged 60 and above, experienced $4.4 billion in losses from cryptocurrency fraud, representing nearly 40% of total losses. The FBI has also begun to track AI-related crimes separately, reporting $893 million in losses from more than 22,000 complaints.
Combatting Fraud
Efforts to tackle cryptocurrency fraud include issuing warnings and seizing assets. The FBI's Operation Level Up has successfully contacted approximately 8,000 potential victims, preventing an estimated $500 million in losses, including $225.9 million last year.
Recent law enforcement actions include a five-year prison sentence for an individual involved in a $9.4 million Ponzi scheme and increased scrutiny on international fraud operations. A Scam Center Task Force launched last year has led to the seizure of over $25 million tied to fraudulent crypto investments and romance scams.
The Justice Department is pursuing the forfeiture of 127,271 Bitcoin, valued at around $15 billion, from Chen Zhi, chairman of Prince Group, due to allegations of forced labor scams in Cambodia, marking a significant forfeiture in U.S. history. Prince Group has denied the allegations.
Additionally, the CFA has filed a lawsuit against Meta for its role in facilitating scam advertisements, highlighting platforms like Facebook, Instagram, and WhatsApp as frequent venues for scams. Ben Winters, CFA's director of AI and privacy, criticized the lack of accountability among tech companies and pointed to the SCAM Act, which seeks to curb fraudulent advertising online.
