FBI: Crypto Investors in Alabama Lose $50 Million Due to Scams

The FBI's Alabama office has disclosed to FOX News that approximately 300 residents of the state fell victim to fraudulent cryptocurrency operations in 2023, with each losing an average of $170,000. Special Agent Matt Tootle emphasized that the greatest threat to state residents in 2023 was the schemes involving the theft of funds and digital assets through the use of tactics known as "social engineering."

"We've seen cases where scammers spend months developing seemingly genuine relationships with their future victims. For instance, they create fake online resources, displaying the victim's asset balance and the profitability of cryptocurrency investments. In some instances, to encourage investors to continue funding or make substantial money transfers, scammers allow victims to witness the 'effectiveness of the crypto project' and withdraw a portion of their funds," explained the special agent.

The high number of victims, the scale of the scheme, and the speed at which it operates make this type of crypto scam unique. According to Matt Tootle, any crypto investor should be immediately wary when promised significant returns on investments within a short timeframe. And in the event of falling victim to such a crime, reporting it to law enforcement promptly is crucial, as delays can significantly hinder fund recovery.

"Often, victims realize they've lost all their money only weeks or months later. It's essential to keep a close eye on your accounts. The sooner you report the crime, the better. At the FBI, we believe that proactivity is your best defense."

Previously, Tether's CEO, Paolo Ardoino, stated that his company intends to establish close cooperation with the U.S. Secret Service and the Federal Bureau of Investigation to prevent crimes in the digital finance sector.