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US investors lost $5.60 billion to crypto scams last year, up 45% year-on-year.

According to a report released by the Federal Bureau of Investigation (FBI) on Monday, U.S. investors lost a record $5.60 billion to crypto-related financial crimes in 2023, an increase of 45% from 2022. The report notes that of the more than 69,000 reports of crypto-related crimes received last year, nearly half were reports of investment fraud. While crypto crimes accounted for only 10% of the complaints received by the FBI, the $5.60 billion figure was roughly half of the complainant's total losses.