In 2024, crypto scams surged, leading to $2.3 billion in reported losses globally. The rise is attributed to increasingly sophisticated schemes, including phishing attacks, fake investment platforms, and impersonation scams targeting novice and seasoned investors alike. Fraudsters exploited the growing popularity of decentralized finance (DeFi), non-fungible tokens (NFTs), and digital wallets, leveraging anonymity and borderless transactions. Regulatory gaps and inadequate security measures further enabled these crimes. Authorities have urged investors to exercise caution, verify platforms, and adopt secure practices. Efforts to combat crypto fraud have intensified, with governments and exchanges emphasizing education, stricter regulations, and enhanced cybersecurity protocols.