Through its Operation Level Up program, the Federal Bureau of Investigation (FBI) has made a big difference in the fight against cryptocurrency fraud. It has saved people about $285 million. In the years between January 2024 and January 2025, the FBI found and stopped thousands of cases of theft, saving hundreds of millions of dollars. Many of these scams were romance fraud and “pig butchering” scams, in which criminals trick people into investing in fake cryptocurrency schemes.
How the FBI Intervened to Save Victims
During Operation Level Up, the FBI warned over 4,300 people that they might lose their investments. The FBI stressed that crypto scammers often give victims a false feeling of urgency and isolation to get them to make quick financial decisions. Thanks to their swift action at key times, the FBI saved thousands of people from falling deeper into scams.
The office also reminded people to be careful when looking for ways to invest their money. Their “Take A Beat” campaign tells people to think about questionable money offers before they act on them.
The Rising Threat of Crypto Scams in the U.S.
Even though the FBI is working hard to stop it, cryptocurrency investing fraud is still becoming a bigger problem. Americans lost more than $5 billion to crypto scams in 2023 alone. The old were the main targets. Cybercriminals use AI to make fake investment websites that get people to invest in digital assets that don’t exist.
The FBI has frozen and seized crooks’ crypto wallets to stop these scams. In September 2024, the agency froze $6 million in fake crypto funds, preventing further losses.
A Future of Enhanced Crypto Security?
Thanks to the FBI’s help, people have been able to save millions of dollars, but the fight against crypto scams is far from over. Since scammers constantly change how they do things, law enforcement must keep changing. The FBI’s recent operation in 2024, which found an illegal wash trade using a fake token, shows how creatively the agency fights financial crime.
Conclusion
As President Trump’s administration changes the FBI’s leadership, with Brian Driscoll as acting director and Kash Patel as a possible replacement, it’s unclear how the bureau will continue to fight crypto theft.
