People all over the world are ‘bankrupt’ due to this fraud, America is first in the list and India is at 5th

There is a steady increase in fraud cases related to cryptocurrency. This claim has been made in a recently released FBI report. According to this, the highest loss in 2023 has been in the US, which is around $5.6 billion and this is 45 percent more than a year ago. This report says that the number of cryptocurrency-related cases in the US has increased significantly this year.

India is at the 5th place in this list, where 840 complaints have been registered. The total loss due to cryptocurrency in India is 4 crore 40 lakh 54 thousand 244 dollars, that is, India is among the top-10 countries where the maximum financial loss has been caused due to cryptocurrency.

FBI report
After the decline in the crypto market in 2022, the token prices increased in 2023 and this attracted cyber criminals. After doubling the value of bitcoin last year, it has increased by about 35 percent this year. According to the FBI report, criminals are using cryptocurrency for many types of fraud. Among these, investment fraud has been reported the most.

Investment fraud caused a loss of about $3.9 billion in 2023, i.e. investment fraud alone accounted for 71 percent of the total loss. At the same time, call center fraud accounts for about 10 percent of the losses related to cryptocurrency.

Canada-UK in top-3
According to the FBI, the severity and complexity of cases of fraud using cryptocurrency is constantly increasing. The best way to prevent these crimes is for people to report them. The report also states that losses from cryptocurrency investment fraud increased from $2.57 billion in 2022 to $3.96 billion in 2023, which is a jump of 53 percent.

Most complaints were made by people in the age group of 30 to 39 and 40 to 49, while people over 60 reported the highest losses, which was more than $1.24 billion. The United States received the most complaints, followed by Canada and the United Kingdom. The report said that fraudsters use a variety of methods, including investment fraud, phishing and government identity fraud.