09/30/2026
Nearly $13 Billion Flagged in Suspected Cryptocurrency Scam Activity
FinCEN recently reported that financial institutions identified approximately $12.7 billion in activity connected to suspected digital-asset investment scams.
Sometimes called “pig butchering,” “romance baiting” or cryptocurrency confidence schemes, these scams often begin with an unexpected message from someone posing as a potential friend, romantic partner or business contact. After gaining the victim’s trust, the scammer introduces a supposedly profitable cryptocurrency investment.
Watch for these warning signs:
• An unsolicited online contact introduces an investment opportunity
• Promises of high or guaranteed returns with little risk
• Instructions to use an unfamiliar cryptocurrency website or app
• Pressure to invest quickly or deposit increasingly larger amounts
• Demands for additional “taxes” or “fees” before money can be withdrawn
Remember: A professional-looking website, app or account balance does not prove that an investment is legitimate.
Before sending money, stop and independently verify the person, company and investment platform. If you suspect fraud, contact your financial institution immediately and file a report with the FBI’s Internet Crime Complaint Center at IC3.gov.
Read the FinCEN announcement:
https://www.fincen.gov/news/news-releases/fincen-identifies-nearly-13-billion-linked-suspected-digital-asset-scams