An analysis from the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) identified $12.7 billion in crypto transactions “perpetrated by overseas scam centers.”

According to a FinCEN report released on Thursday, an analysis of more than 33,000 reports filed between September 2023 and December 2025 of suspected crypto scams revealed about $13 billion in financial transactions. The digital asset-based scams included instances of pig butchering, romance scams and “cryptocurrency confidence schemes,” in which a victim is manipulated into investing in crypto with false promises of large returns.

“Digital asset investment scams pose one of the most significant fraud threats facing Americans today,” said…