FBI's special project operation to crack down on crypto fraud has saved thousands of victims from $285 million losses

On February 14th, according to Cryptoslate, according to a press release on February 13th, the Federal Bureau of Investigation (FBI) has helped thousands of victims avoid hundreds of millions of dollars in losses through "Operation Level Up" (Operation Level Up) to combat crypto investment fraud. The program aims to proactively identify and intervene in fraud traps, and has saved more than 4,300 potential victims and avoided about $285 million in losses. The FBI tracks fraud in real time, directly contacts victims to prevent funds from being invested, and pays attention to the emotional trauma of victims and provides necessary psychological support. The FBI calls on the public to be vigilant against unsolicited investment opportunities, especially cryptocurrency investments, and is committed to gathering intelligence to destroy the criminal network of fraud. According to the FBI's Internet Crime Complaint Center (IC3), cryptocurrency investment fraud losses in 2023 are as high as $3.90 billion, and "romance scam" fraud losses worldwide in 2024 are $3.60 billion, and the actual losses may be higher. On average, 3,200 cryptocurrency fraud complaints are submitted to IC3 every month.