The FBI's special operation to combat cryptocurrency fraud has saved thousands of victims and avoided $285 million in losses

According to a press release on February 13th, the Federal Bureau of Investigation (FBI) has cracked down on cryptocurrency investment fraud through Operation Level Up, helping thousands of victims avoid billions of dollars in losses. The program aims to proactively identify and intervene in fraud traps, saving over 4300 potential victims and avoiding approximately $285 million in losses. The FBI tracks fraudulent activities in real-time, directly contacts victims to prevent financial investment, and pays attention to the emotional trauma of victims, providing necessary psychological support. The FBI calls on the public to be vigilant about unsolicited investment opportunities, especially cryptocurrency investments, and is committed to collecting intelligence to dismantle fraudulent criminal networks. According to the report of the FBI Internet Crime Complaint Center (IC3), the losses of cryptocurrency investment fraud in 2023 will be up to 3.9 billion dollars, and the global losses of "pig killing plate" fraud in 2024 will be 3.6 billion dollars, and the actual losses may be higher. On average, 3200 cryptocurrency fraud complaints are submitted to IC3 every month.