Crypto scams surged to $9.3B in losses, targeting seniors with fake exchanges & pig butchering. Learn key takeaways from the latest FBI IC3 report.

An IC3 report shows crypto investment fraud ballooned, with over $2.8 billion lost by victims aged 60 and older. Total losses hit $9.3 billion after rising 66% year-over-year.

The FBI's latest report unveils a dramatic rise in online scams, with $16.6 billion lost in 2024. This alarming figure highlights the growing threat of cybercrime, particularly targeting older Americans and involving cryptocurrencies.

In short the U.S. banking landscape has proven to be difficult, if not outright hostile, to crypto-native institutions, but this has not stopped innovation and the creativity in the space. As this outlook continues to pivot to a more hospitable one, let’s take a look at what this means for crypto investors going forward.

U.S. banking regulators announced on Thursday they were pulling back several documents that urge banks to show caution when dabbling in cryptocurrency and related activities.

The Federal Reserve said it was withdrawing documents stipulating that banks should seek advance approval before engaging in crypto activities.