Americans reported $11.4 billion in losses tied to cryptocurrency scams last year, 22% more than in 2024, highlighting the growing scale of digital asset fraud, an FBI report revealed Tuesday.

“Cryptocurrency investment scams are sophisticated long-term scams using psychological manipulation, the appearance of legitimacy, and exploitation of cryptocurrencies to deceive victims into investing large sums of money,” the report said.

The report also said that most crypto scams are perpetrated by organized criminal enterprises based in Southeast Asia that exploit victims of human trafficking as forced labor to run the operations.

Crypto analytics firm Chainalysis released a report in January revealing that as much as $17 billion in crypto was…