The FBI's special operation against cryptocurrency fraud has saved thousands of victims and prevented losses of $285 million
ChainCatcher news, according to a report by Cryptoslate, based on a press release from February 13, the Federal Bureau of Investigation (FBI) has helped thousands of victims avoid losses of hundreds of millions of dollars by combating cryptocurrency investment fraud through "Operation Level Up." The program aims to proactively identify and intervene in scam traps, having saved over 4,300 potential victims and prevented approximately $285 million in losses.The FBI tracks fraudulent activities in real-time, directly contacting victims to stop fund transfers, and addresses the emotional trauma of victims by providing necessary psychological support. The FBI urges the public to be vigilant against unsolicited investment opportunities, especially in cryptocurrency, and is committed to gathering intelligence to dismantle fraud crime networks.According to the FBI's Internet Crime Complaint Center (IC3), losses from cryptocurrency investment fraud reached as high as $3.9 billion in 2023, with global losses from "pig butchering" scams amounting to $3.6 billion in 2024, and the actual losses may be even higher. An average of 3,200 cryptocurrency fraud complaints are submitted to the IC3 each month.