Cryptocurrency crimes being fought by the GIOC consists of deceptive schemes such as fake investment platforms, extortion plots, and social engineering scams that exploit digital anonymity and financial inexperience.

Quotes that support claims

One real-life case involved an Idaho teenager who was extorted into paying hundreds of dollars after sending an intimate photo online. The investigation revealed a network of transactions funneled through another American teen, ultimately leading to a crypto wallet that had processed nearly $4.1 million through 6,000 transactions.

Investment frauds, fake platforms and extortion schemes disproportionately affect older victims, who lost nearly $2.8 billion last year.