Crypto
FBI issues first cryptocurrency fraud report, Pennsylvania named among states with most money lost
PITTSBURGH (KDKA) – The Federal Bureau of Investigation has issued its first-ever cryptocurrency fraud report and Pennsylvania ranked among the states with the highest number of complaints and money lost.
Overall, the FBI said that more than $5.6 billion in estimated losses occurred in 2023 in connection with cryptocurrency.
Here in Pennsylvania, the commonwealth ranked 8th among stats for the number of complaints with 1,773, and 9th in money lost with a total of more than $123 million.
The FBI’s data showed that in 2023 investment scams that were linked to cryptocurrency were among the most pervasive along with tech support scams, data breach scams, and romance crimes.
They added that the decentralized nature of cryptocurrency and the speed of transferring value around the world makes “cryptocurrency an attractive vehicle from criminals and creates unique challenges in recovering stolen funds.”
They’re warning people to be vigilant when contacted by potential scammers, saying that criminals will try to create a sense of urgency and isolation when they make contact. The scammers also have been known to use websites that mimic real financial institutions in order to project a sense of legitimacy, as well as use suspicious-looking mobile apps for investment tools.
Finally, they said that no law enforcement will ever call citizens and ask for payment in cryptocurrency.
You can read the FBI’s full cryptocurrency fraud report on their website at this link.
PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.
A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.
The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.
“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”
Tager said people like receiving cryptocurrency because it has the potential to increase in value.
“There’s so much you can do with this technology and it’s still in its early days,” she said.
Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.
“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”
Gift-givers can also contribute to 529 plans for college and other education expenses.
“It’s that gift that potentially can keep on giving,” Prescod said.
For those still interested in giving cryptocurrency, experts recommend doing research first.
“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.
The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.
See a spelling or grammatical error in our story? Please click here to report it.
Do you have a photo or video of a breaking news story? Send it to us here with a brief description.
Copyright 2025 KTVK/KPHO. All rights reserved.
Crypto
Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens
Washington state flooding damage profound but unclear, governor warns
Wisconsin’s minimum wage has been $7.25 an hour since 2009. Will it go up in 2026?
West Virginia Lottery results: See winning numbers for Mega Millions, Daily 3 on Dec. 16, 2025
University of Wyoming sues former energy research partner for $2.5M – WyoFile
Crypto Tax Pressure Reaches Congress as Lawmakers Face Urgent Push to Rewrite Federal Rules
Florida High School Football Rankings: Top 25 teams – Oct. 21
Cleary's 21 help Le Moyne down Central Connecticut State 69-64 in OT
How old is Bo Nix? What to know about Oregon quarterback ahead of 2024 NFL Draft
99th annual Pony Swim held in Virginia
Video: ‘It Didn’t Have to Happen This Way:’ U.Va. Faculty Call for Review of Police Response to Protests
Video: Man on Roof Faces Off with ICE Agents for Hours in Minnesota
Maryland to study slavery reparations after lawmakers override Dem governor’s veto
Louvre reopens partially after workers extend strike in aftermath of heist
Trump’s BBC lawsuit: A botched report, BritBox, and porn
Video: Prosecutors Charge Nick Reiner With Murdering His Parents
-
Iowa2 days agoAddy Brown motivated to step up in Audi Crooks’ absence vs. UNI
-
Washington1 week agoLIVE UPDATES: Mudslide, road closures across Western Washington
-
Iowa1 week agoMatt Campbell reportedly bringing longtime Iowa State staffer to Penn State as 1st hire
-
Iowa4 days agoHow much snow did Iowa get? See Iowa’s latest snowfall totals
-
Cleveland, OH1 week agoMan shot, killed at downtown Cleveland nightclub: EMS
-
World1 week ago
Chiefs’ offensive line woes deepen as Wanya Morris exits with knee injury against Texans
-
Maine22 hours agoElementary-aged student killed in school bus crash in southern Maine
-
Technology6 days agoThe Game Awards are losing their luster
