The FBI says investment fraud was the form of cybercrime that incurred the greatest financial loss for Americans last year. Investment scams, often promising huge returns, led to reported losses of $4.57 billion throughout the year – a 38 percent increase from $3.31 billion in 2022. The vast majority prey on those looking to make a quick buck with cryptocurrency, with these kinds of scams contributing just shy of $4 billion to the overall losses. The FBI warned of increases in crypto scams in March last year, saying most begin with some sort of social engineering, like a romance or confidence scam, which then evolve into crypto investment fraud.