Crypto-related scam losses reached $4.6B in 2023, and investment scams made up 90% of the impact. Asia generated 58% of global scam activity, while the FTC reports a $3,800 median loss per victim. The geography of scam origins does not always align with where losses land.
Key Takeaways
- Asia 58% of global crypto scam origins Chainalysis 2023
- US 20% of crypto scam losses worldwide 2022
- Crypto scam complaints up 118% from 2021 FTC
- FTC received 46,000 crypto scam complaints in 2022
- IC3 reported 69,000 crypto complaints in 2022, up 38% YoY
- BBB Scam Tracker logged 10,000+ crypto scam reports 2022
- In 2022, consumers reported losing $3.8 billion to crypto-related scams to the FTC
- Chainalysis reported $3.7 billion in crypto stolen via scams and hacks in 2022
- FBI IC3 noted $3.31 billion in crypto investment scam losses in 2022
- Investment scams comprised 90% of crypto complaints to FTC 2022
- Pig butchering scams accounted for 43% of crypto crime USD per Chainalysis 2023
- Romance scams led to $1.3B crypto losses per FTC 2023
- 65+ age group 40% of crypto scam victims FTC 2022
- Men reported 70% of crypto scam losses IC3 2022
- Average victim age 50+ in 60% cases BBB 2023
Crypto scam origins cluster in Asia while losses surge globally, with investment and pig butchering driving most damage.
Related reading
01 · Category
Global and Temporal Data18 stats
01
Asia 58% of global crypto scam origins Chainalysis 2023
02
US 20% of crypto scam losses worldwide 2022
03
Crypto scam complaints up 118% from 2021 FTC
04
Southeast Asia 40% pig butchering scams TRM 2023
05
2022 peak year for crypto scams +38% IC3
06
Africa 15% scam volume Chainalysis Africa report
07
EU crypto scam reports doubled 2021-2022 Europol
08
Q4 2022 saw 25% spike in scams post-FTX Chainalysis
09
India 10% global victims DFPI-like reports
10
2023 H1 scams down 10% but losses up Elliptic
11
China 30% scam infrastructure despite ban
12
UK £600M crypto scam losses 2022 Action Fraud
13
Latin America 12% growth in scams 2023 Chainalysis
14
Post-2021 bull market scams tripled BBB
15
Mobile app scams 35% in APAC 2022
16
Canada 5% North American losses IC3
17
2024 forecast: 20% rise in AI-enhanced scams TRM
18
Eastern Europe 18% laundering hubs Chainalysis
Interpretation
Global and Temporal Data Interpretation
Crypto scams are a global headache with Asia generating 58% of global scam activity (Chainalysis 2023), the US absorbing 20% of global loss burden (2022), complaints spiking 118% since 2021 (FTC), Southeast Asia hit hardest by 40% pig butchering scams (TRM 2023), 2022 as the peak year with a 38% increase (IC3), Africa accounting for 15% of scam volume (Chainalysis Africa), the EU doubling reports between 2021-2022 (Europol), Q4 2022 seeing a 25% spike post-FTX (Chainalysis), India contributing 10% of global victims, 2023 H1 scams down but losses up 10% (Elliptic), China still hosting 30% of scam infrastructure despite its ban, the UK losing £600M (Action Fraud), Latin America growing 12% (2023 Chainalysis), AI-enhanced scams tripling post-2021's bull market (BBB), mobile app scams making 35% of APAC's total (2022), Canada holding 5% of North American losses, and an expected 20% rise in AI scams by 2024 (TRM)—with Eastern Europe emerging as a top laundering hub (Chainalysis).
02 · Category
Incident Counts19 stats
01
FTC received 46,000 crypto scam complaints in 2022
02
IC3 reported 69,000 crypto complaints in 2022, up 38% YoY
03
BBB Scam Tracker logged 10,000+ crypto scam reports 2022
04
Chainalysis tracked 164,000 scam wallets in 2022
05
FTC 2023: 34,000 crypto scam reports YTD
06
FBI IC3: Crypto complaints doubled from 2021 to 2022
07
Action Fraud UK: 3,500 crypto scam reports 2022, £225m loss
08
DFPI CA: 1,000+ crypto scam complaints 2023
09
Europol: 4,000 victims in crypto pyramid schemes busted 2023
10
SEC: 100+ crypto fraud cases filed 2022
11
IRS-CI: 2,400 crypto scam investigations opened 2022
12
Chainalysis: 100,000+ phishing scam incidents 2023
13
BBB: Crypto scams top scam types with 15% of reports 2023
14
IC3 Q1 2023: 12,000 crypto complaints
15
FTC: Crypto scams 10% of all fraud reports 2022
16
Elliptic: 250 major scam campaigns tracked 2022
17
TRM Labs: 5,000 pig butchering ops detected 2023
18
Chainalysis: 78,000 investment scam sites shut down 2022
19
FBI: 300 arrests in crypto scams 2022
Interpretation
Incident Counts Interpretation
2022 saw crypto scams dominate the fraud scene—FTC fielded 46,000 complaints, IC3 reported 69,000 (up 38% from 2021), BBB logged 10,000+, Chainalysis tracked 164,000 scam wallets, 78,000 fake investment sites, and 250 major campaigns (plus 300 arrests)—while 2023 only cranked up the heat: FTC has 34,000 YTD reports, IC3 hit 12,000 in Q1, BBB ranked crypto scams as 15% of all reports, IRS opened 2,400 investigations, TRM Labs found 5,000 "pig butchering" operations, and UK action fraud lost £225 million to 3,500 victims—scammers are working overtime, and we’re all still scrambling to stay ahead.
03 · Category
Losses and Amounts24 stats
01
In 2022, consumers reported losing $3.8 billion to crypto-related scams to the FTC
02
Chainalysis reported $3.7 billion in crypto stolen via scams and hacks in 2022
03
FBI IC3 noted $3.31 billion in crypto investment scam losses in 2022
04
FTC data shows median crypto scam loss of $3,800per victim in 2022
05
Better Business Bureau reported over $100 million in crypto scam losses in 2022
06
Elliptic found $1.7 billion in illicit crypto from scams in 2022
07
TRM Labs reported $3.9 billion total crypto scam proceeds in 2022
08
Chainalysis 2023 report: $1.7 billion lost to investment scams alone
09
FBI seized $30 million from crypto scams in Operation Level Up
10
FTC 2023 Q1: $225 million lost to crypto scams
11
IC3 2021: $2.57 billion crypto scam losses
12
Chainalysis: $14 billion total illicit crypto volume in 2022, 24% scams
13
BBB Scam Tracker: $247 million crypto losses in 2023 YTD
14
Europol: €1.2 billion laundered from crypto scams in 2022 EU
15
DFPI California: $1 billion crypto scam losses 2021-2023
16
SEC: $1.2 billion recovered from crypto scams in 2023
17
IRS-CI: $2.5 billion crypto scam investigations 2022
18
Chainalysis 2024 preview: $4.5 billion scam losses projected
19
FTC: Investment scams caused 90% of $4.6B crypto losses 2023 H1
20
FBI: $660 million crypto scam losses Q1 2023
21
Elliptic: $530 million DeFi scam losses 2022
22
TRM: $1.1 billion pig butchering scam proceeds 2023
23
Chainalysis: $2.2B North Korean scam hacks 2022
24
FTC: 70% of crypto scam losses over $10k per victim 2022
Interpretation
Losses and Amounts Interpretation
The staggering numbers on crypto scams—with 2022 losses ranging from $3.3 billion (FBI) to $3.9 billion (TRM), 90% tied to investment scams (FTC), a median loss of $3,800 per victim, $2.2 billion in North Korean hacks (Chainalysis), $1.1 billion in pig butchering proceeds (TRM), $530 million in DeFi scams (Elliptic), €1.2 billion laundered in the EU (Europol), $247 million in 2023 YTD losses (BBB), $225 million in Q1 2023 (FTC), and $2.57 billion in 2021 (IC3)—paint a chaotic but growing picture, with $14 billion in illicit crypto volume (24% from scams) and $4.5 billion projected for 2024 (Chainalysis) underscoring the crisis, even as $30 million was seized (FBI’s Operation Level Up), $1.2 billion recovered (SEC), and $2.5 billion in investigations launched (IRS-CI), while California (DFPI) tracked $1 billion in cumulative losses between 2021-2023.
More related reading
04 · Category
Scam Methods16 stats
01
Investment scams comprised 90% of crypto complaints to FTC 2022
02
Pig butchering scams accounted for 43% of crypto crime USD per Chainalysis 2023
03
Romance scams led to $1.3B crypto losses per FTC 2023
04
Phishing attacks made up 20% of crypto incidents IC3 2022
05
Rug pulls totaled $1B in DeFi per Elliptic 2022
06
Fake ICOs caused 15% of scam losses Chainalysis
07
Ponzi schemes 25% of crypto frauds per SEC 2022
08
Job scams using crypto payments 10% BBB 2023
09
Impersonation scams 30% of reports FTC 2022
10
NFT scams $500M losses 2022 Chainalysis
11
Pump-and-dump schemes prevalent in 12% incidents TRM
12
Wallet drainer malware in 8% hacks Elliptic
13
Fake exchange listings 18% of BSC scams Chainalysis
14
SIM swap attacks 5% of crypto thefts FBI
15
Giveaway scams promoted by fake celebs 22% Twitter reports
16
Hydra darknet market crypto scams 40% volume pre-ban
Interpretation
Scam Methods Interpretation
Cryptocurrency scammers in 2022–2023 didn’t just spread chaos—they specialized: romance scams wiped out $1.3 billion (FTC), investment scams made up 90% of FTC complaints, pig butchering led 43% of crypto crime, impersonation scams grabbed 30% of reports, phishers hit 20% of incidents, fake ICOs caused 15% of losses, ponzi schemes 25% of frauds, rug pulls cost $1 billion in DeFi, pump-and-dump schemes popped up in 12%, wallet drainer malware in 8%, fake exchange listings 18% of BSC scams, SIM swap attacks 5% of thefts, fake celeb giveaways 22% of Twitter reports, and the Hydra darknet market handled 40% of pre-ban scam volume—truly a crook’s toolkit, but a stark reminder for users to stay one step ahead.
05 · Category
Victim Profiles18 stats
01
65+ age group 40% of crypto scam victims FTC 2022
02
Men reported 70% of crypto scam losses IC3 2022
03
Average victim age 50+ in 60% cases BBB 2023
04
25% of victims first-time crypto users Chainalysis
05
College-educated victims 55% FTC data
06
Retirees lost $500M+ to crypto scams 2022 AARP
07
80% US victims in crypto investment scams DFPI
08
Women 30% of romance-crypto scam victims FTC
09
Millennials 40% of NFT scam victims Elliptic
10
High-income ($100k+) 35% victims IC3
11
Veterans targeted in 15% military crypto scams
12
50% victims responded to social media ads BBB
13
Unemployed victims 20% in job scams
14
Immigrants 25% pig butchering targets TRM
15
Gen Z 15% but higher per capita losses Chainalysis
16
Disabled individuals 10% overrepresented FTC
17
Repeat victims 12% of total complaints IC3
18
45% US victims in Losses and Amounts category FTC
Interpretation
Victim Profiles Interpretation
Crypto scams don’t discriminate—2022–2023 data from FTC, IC3, BBB, and others shows 40% of victims are 65+, retirees lost over $500M that year, men report 70% of losses but women make up 30% of romance-crypto scam targets, 25% are first-time crypto users, 55% are college-educated, veterans (15%) and immigrants (25%, often via "pig butchering" scams) are targeted, Gen Z (15% of victims) suffers higher per capita losses, disabled individuals are overrepresented, 80% of U.S. victims fell for investment scams (with 50% lured via social media ads), 45% filed in "Losses and Amounts" categories, 12% are repeat victims, and high-income earners ($100k+) and millennials (40% of NFT scam victims) aren’t immune—so while no group’s truly safe, older, retired, and less digitally experienced folks seem hit hardest, even "wise" or "tech-savvy" types can’t outsmart these tricks.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Lars Eriksen. (2026, February 24). Crypto Scam Statistics. Gitnux. https://gitnux.org/crypto-scam-statistics
MLA
Lars Eriksen. "Crypto Scam Statistics." Gitnux, 24 Feb 2026, https://gitnux.org/crypto-scam-statistics.
Chicago
Lars Eriksen. 2026. "Crypto Scam Statistics." Gitnux. https://gitnux.org/crypto-scam-statistics.
Sources & references
18 datasets cited across this report · attribution is report-level