The U.S. Financial Crimes Enforcement Network (FinCEN) has released new data indicating that foreign criminal syndicates are behind cryptocurrency fraud schemes that have caused U.S. citizens to suffer losses totaling more than $13 billion. According to the agency’s estimates, in the last 12 months alone, the number of incidents involving cryptocurrency fraud has increased by 27% compared to the previous year.

Among the most common schemes are Ponzi schemes, phishing attacks, and scams involving fake exchanges. In its report, FinCEN emphasizes that cybercriminals are increasingly using anonymous cryptocurrency wallets and decentralized platforms to conceal the flow of funds.

The agency urges financial institutions and users to remain vigilant, noting that approximately 60% of the identified schemes were organized by groups based in East Asia and Eastern Europe. To counter this threat, FinCEN is strengthening cooperation with foreign law enforcement agencies and implementing new analytical tools to track suspicious transactions.

• Losses from crypto fraud in the U.S. exceeded $13 billion over the past year
• A 27% increase in fraud cases compared to last year
• 60% of schemes are linked to syndicates from East Asia and Eastern Europe

FinCEN recommends that cryptocurrency users carefully vet platforms and offers and follow standard cybersecurity measures to reduce the risk of falling victim to fraud.