DIGIVESTASI - Cases of cryptocurrency-related fraud continue to rise, with losses reaching trillions of rupiah. One striking example occurred in the United States (US), where last year US citizens lost more than US$ 5.6 billion or around Rp 86.7 trillion due to various crypto fraud schemes.

According to an FBI report released on Monday (9/9/2024) and reported by AP, this loss figure increased by 45% compared to 2022. The FBI received nearly 70,000 complaints throughout 2023, mainly from victims of financial scams involving cryptocurrencies such as bitcoin and ether. Fraudulent investment scams were the most common, causing US$3.96 billion in losses.

Michael Nordwall, assistant director of the FBI's criminal investigation division, explained that the decentralized nature of cryptocurrencies, fast irreversible transactions and cross-border transfer capabilities make them an attractive tool for criminals, while making it difficult to recover stolen funds.

A common scam involves fraudsters approaching victims through dating apps or social media. They build a relationship over several weeks or months, and then propose crypto investments. Victims are often directed to a fake website or app, and are initially allowed to withdraw a small amount of money to gain trust. In some cases, victims are also targeted by fake businesses that claim to recover lost crypto.

The FBI reminds people to be wary of investment offers from people they have never met in person.

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