FBI Report: Losses Due To Crypto Fraud Reaches IDR 39.4 Trillion In 2022

The FBI says crypto scams have increased dramatically in the last two years. (Photo; Doc. TripWire)

JAKARTA - Crypto investment has seen a significant increase in recent years. However, unfortunately not all involved in this industry are in good service. According to a recent report from the Federal Bureau of Investigation (FBI), the number of victims of crypto investment fraud hit record figures in 2022.

The report reveals that investment fraud is the most expensive scheme reported to the Internet Crime Complain Center (IC3) last year. Losses experienced by investment fraud victims increased from US$1.45 billion (Rp22.2 trillion) in 2021 to US$3.31 billion (Rp50.8 trillion) in 2022, or an increase of 127 percent. Crypto fraudsters suck up US$2.57 billion (Rp39.4 trillion) in 2022, up 183 percent from 907 million US dollars (Rp13.9 trillion) in 2021.

"Many victims suffered heavy losses and even had to bear large debts to cover losses from this fraudulent investment," the FBI said.

According to the report, most of the victims of investment scams are between the ages of 30 and 49. Some of the most widely used fake crypto schemes involve "liquidity mining," which lures victims to connect their crypto wallets to malicious apps. The perpetrators also hacked social media accounts to sell fake investment opportunities to affected user friends.

The perpetrators also disguised themselves as well-known celebrities to convince victims to invest in fake opportunities. They also target professionals in the real estate sector by offering expensive property purchases with cash or cryptocurrencies.

Fraudsters are now increasingly using crypto platforms to run their schemes. "Recently, criminals often use safeguard accounts held by financial institutions for crypto exchanges, or ask victims to send funds directly to crypto platforms where the funds are quickly disseminated," the FBI continued.

In a situation like this, crypto investors should be more vigilant and careful in choosing a safe and trustworthy investment. As a precautionary measure, it is recommended to always carefully check and verify new investment offers.