Americans lost a staggering $80.7 billion to crypto scams last year — more than half of all reported scam losses — with only 14% of victims actually reporting it, suggesting the real number could be even higher. Investment fraud alone cost $61.4 billion, with seniors over 60 hit hardest, losing nearly $4.4 billion. The FBI’s “Operation Level Up” prevented $500 million in losses and seized $25 million from international fraudsters. Social media platforms like Facebook and Instagram are major scam hubs, and new legislation like the SCAM Act could hold them accountable. The crypto scam landscape is a wild west — and it’s getting worse.
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