Global cryptocurrency scams surged to an estimated $35 billion in 2025, according to a new report by blockchain intelligence firm TRM Labs. The firm warns that actual losses could exceed $200 billion annually when underreporting is considered.
Criminal networks are increasingly employing social engineering and AI tactics to target victims. Stolen funds are often moved across multiple wallets and blockchain networks within 24 to 48 hours, complicating recovery efforts.
TRM Labs emphasizes the critical need for improved education and advanced investigative tools for law enforcement. Blockchain analytics and AI are essential for tracking illicit crypto activity, identifying fraudulent networks, and tracing stolen assets. New York's RIP OFF Act is cited as an example of legislation modernizing fraud statutes to address virtual currency crimes.