Crypto fraud accounted for 66% of all investment fraud reported in the UK last year, according to City of London Police and national reporting center Action Fraud.
This percentage marks an increase of 16% over 2023, with victims collectively losing a total of $830.4 million (£649 million), meaning that crypto fraud cost UK residents some $549 million (£428 million).
While the total number of reports to Action Fraud declined by 7% in 2024, the total financial loss represented a 13% increase.
The data also highlights how social media plays an increasingly central role for fraudsters, given that 36% of all reports made reference to one social network or another.
WhatsApp, Facebook and Instagram were the most popular social networks for…
Apr 18 2025
