In 2023, crypto scams resulted in a staggering $5.6 billion in losses for people across the United States, with older adults bearing the brunt of these frauds, according to an FBI report. The report, released last week, highlighted that more than 69,000 individuals reported falling victim to scams involving digital currencies, often facilitated through easily accessible cryptocurrency ATMs.

A significant portion of the complaints came from individuals aged 60 years of age and older. More than 16,000 complaints were filed by this group, reporting a combined loss of more than $1.6 billion — far surpassing any other age category. In contrast, those below the age of 20 submitted the fewest…

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