Investment Scams Surge Across the US as Fraudsters Exploit Social Media, Texts, and Crypto Boom

November 18, 2025

Investment scams have surged across the United States, reporting over 66,700 incidents and $3.5 billion in losses in the first half of 2025. Cryptocurrencies are a significant target for fraudsters, with victims on average losing $10,000 each, primarily through social media and text messaging tactics.

In the first half of 2025, investment scams in the United States surged dramatically, with over 66,700 incidents reported that resulted in losses exceeding $3.5 billion. This form of fraud has emerged as the fifth most prevalent scam category in the country. Cryptocurrencies have been the primary target for these scams, with fraudsters reportedly stealing $939 million in digital assets, a significant rise of $261 million compared to the same period the previous year. The median loss per victim reached $10,000, marking the highest among all scam types and overshadowing losses in business and job fraud by an alarming 376%. Certain regions displayed remarkable vulnerability, particularly Nevada, which saw 211 cases per million people and incurred losses over $40.4 million. Arizona followed closely with 202 cases per million and losses surpassing $95.1 million, while Floridians reported a staggering total loss of $241 million from 185 incidents per million residents. A troubling trend, known as the 'pig butchering' scam, has emerged, where criminals initially engage potential victims on social media platforms or dating apps. They spend months cultivating trust before luring the victims into investing in fake cryptocurrency schemes backed by fabricated accounts showing impressive growth. Once enough funds are entrusted to them, the scammers vanish, leaving the victims disillusioned and financially devastated. Social media stands out as the primary channel for these fraudulent activities, with 13,577 reports leading to losses of $589.1 million in the first six months of the year. Many people seek financial advice on these platforms, rendering them susceptible to manipulation. Fraudulent websites and applications, enhanced by artificial intelligence tactics, follow closely, reporting 6,007 incidents alongside losses of $266 million. Scammers also exploit text messaging to initiate contact under the guise of friendly conversation, transitioning swiftly into manipulative schemes once they identify vulnerabilities in their targets.