CRYPTO SCAMS RAKE IN $5.6B A YEAR FOR CYBERSCUM LOWLIFES, FBI SAYS

Summary from the TLDR InfoSec newsletter

The FBI's annual report reveals that crypto-related cybercrime in the US led to over $5.6 billion in losses last year, with older individuals being targeted the most. Investment scams, promising high returns but stealing money instead, are the main cause of the sharp rise in losses, highlighting the need for reporting such crimes to help combat them. Scammers use trust-building tactics, like fake profits and fake recovery specialists, to deceive victims, emphasizing the need for caution when engaging in cryptocurrency investments.