(The Epoch Times)—Americans lost more than $5.6 billion to cryptocurrency fraud in 2023, a significant increase from previous years, according to a new report from the FBI.
The FBI’s Internet Crime Complaint Center (IC3) received more than 69,000 complaints involving cryptocurrency fraud, representing a 45 percent increase in losses compared to the previous year, the Sept. 9 report said.
While these cryptocurrency-related complaints accounted for 10 percent of the total number of financial fraud complaints, they made up nearly half of all financial losses reported to the FBI.
“As the use of cryptocurrency in the global financial system continues to grow, so too does its use by criminal actors,” Michael Nordwall, assistant director for the FBI’s Criminal Investigative Division, said in the report.
According to the report, investment fraud was the most significant contributor to these losses, accounting for $3.96 billion, or 71 percent of all cryptocurrency-related losses.
The report cites investment fraud scammers who use social media platforms, dating apps, and networking sites to build trust with victims before convincing them to invest in fake cryptocurrency schemes.
These scams often involve showing victims fake profits to encourage further investments, but when the victims try to withdraw their funds, they are asked to pay additional fees or taxes, which they never recover.
Other forms of fraud, including tech support scams, government impersonation, and call center fraud, were also notable. Call center fraud represents approximately 10 percent of cryptocurrency-related losses.
An example of tech support scams is criminals impersonating customer support representatives and directing victims to pay for nonexistent services using cryptocurrency.
“The decentralized nature of cryptocurrency, the speed of irreversible transactions, and the ability to transfer value around the world make cryptocurrency an attractive vehicle for criminals while creating challenges to recover stolen funds,” Nordwall said. “Once an individual sends a payment, the recipient owns the cryptocurrency and often quickly transfers it into an account overseas for cash-out purposes.”
The rise in cryptocurrency scams has hit older Americans especially hard. While people over the age of 60 made up just 24 percent of the total complaints, they reported the highest financial losses, totaling $1.65 billion.
Younger generations were hit less hard, with those under 20 losing $14.7 million, followed by those in their 20s losing $168.5 million, those in their 30s losing $693.7 million, those in their 40s losing $843.8 million, and those in their 50s losing $901 million.
Some states were hit harder by scams than others. The top five states for cryptocurrency fraud losses were California ($1.15 billion), Texas ($411.9 million), Florida ($390.2 million), New York ($317.3 million), and New Jersey ($179.4 million).
The five least impacted were Vermont ($4.8 million), Maine ($5.9 million), North Dakota ($6.5 million), Wyoming ($7.3 million), and the District of Columbia ($8.3 million).
The report offers several tips for individuals to protect themselves from cryptocurrency scams. It emphasizes the importance of verifying the legitimacy of investment opportunities, especially when offered by people met online or through unsolicited contacts.
The FBI advises never to send cryptocurrency payments to individuals or companies without thoroughly researching them.
Additionally, people are urged to be cautious of companies claiming they can recover lost cryptocurrency, as many of these services charge up-front fees and may be fraudulent themselves.
The agency urges victims to file complaints with IC3, even if no financial loss occurred.
For further protection, victims should promptly report any suspicious activity to the IC3. The FBI emphasized the importance of timely and accurate reporting in helping law enforcement track and recover lost funds.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.
