The Federal Bureau of Investigation (FBI) has sounded the alarm on a growing threat in the cryptocurrency space: investment scams.

According to the FBI’s Internet Crime Complaint Center (IC3), investment scams involving cryptocurrency led to a staggering loss of $5.8 billion in 2024.

This alarming figure is part of a larger trend, with total losses from internet crimes reaching $16.6 billion in 2024, a 33% increase from the previous year.

The IC3 report reveals that crypto-related scams accounted for $9.3 billion in losses, a whopping 66% increase from 2023.

Investment scams were the most damaging, with losses totaling $5.8 billion. These scams often involve “pig butchering” tactics, where criminals build fake online relationships to convince people to invest in fake crypto platforms.

Older adults were particularly vulnerable, with individuals aged 60 and above losing over $2.8 billion.

In response to this growing threat, the FBI launched “Operation Level Up” in early 2024.

This operation helped identify over 4,300 victims, but the report also revealed that 76% of these individuals didn’t even know they were being scammed. This highlights the sophistication and cunning nature of these scammers.

TRM Labs, a blockchain security firm, supported the FBI’s findings, noting that scams like fake investments and “financial grooming” were the most common crimes in the crypto world last year.

Their report warned that scammers are using increasingly sophisticated tools, such as QR codes, crypto ATMs, and digital currencies like USDT and DAI, to trick people.

They even use AI to pretend to be trusted friends or financial experts.

As the use of cryptocurrency continues to grow globally, experts are urging investors to exercise caution.

They advise individuals to verify the legitimacy of platforms and avoid sharing personal details with strangers online.

The FBI’s report serves as a stark reminder of the risks associated with cryptocurrency investments and the importance of vigilance in the digital age.

The $5.8 billion loss to investment scams in 2024 is a wake-up call for investors, regulators, and law enforcement agencies.

In a remarkable crew-swap mission, a SpaceX capsule successfully docked at the International Space Station (ISS) on Sunday, delivering four astronauts and paving the way for the return of two stuck astronauts, Butch Wilmore and Sunita Williams, after nine months in orbit.

The Crew-10 astronauts’ SpaceX Crew Dragon capsule launched from NASA’s Kennedy Space Center in Florida on Friday at 7:03 p.m. ET and docked at the ISS approximately 29 hours later, at 12:04 a.m. ET (0404 GMT) on Sunday. The seven-member crew of the ISS, including Wilmore and Williams, welcomed the new arrivals.

Wilmore and Williams, veteran NASA astronauts and retired Navy test pilots, have been stranded on the ISS due to problems with Boeing’s Star-liner capsule. Their return to Earth is now imminent, with a scheduled departure on Wednesday at 4 a.m. ET (0800 GMT), alongside NASA astronaut Nick Hague and Russian cosmonaut Aleksandr Gorbunov.

The Crew-10 mission has been marked by controversy, with President Donald Trump and his adviser Elon Musk, also SpaceX’s CEO, urging a quicker launch and claiming that Trump’s predecessor, Joe Biden, had abandoned Wilmore and Williams on the station for political reasons.

Despite the politics, Wilmore and Williams have continued to conduct scientific research and routine maintenance on the ISS. Williams expressed her excitement about returning home to her family and two dogs, saying, “It’s been a roller coaster for them, probably a little bit more so than for us. “The Crew-10 crew, comprising NASA astronauts Anne McClain and Nichole Ayers, Japanese astronaut Takuya Onishi, and Russian cosmonaut Kirill Peskov, will spend approximately six months on the ISS.

In today’s interconnected world, cybercriminals are be-coming increasingly adept at exploiting vulnerabilities in personal devices to extract sensitive information from unsuspecting victims. As hacking attempts grow more sophisticated, experts are sounding the alarm on the importance of adopting robust security measures to safeguard personal devices and prevent devastating financial losses. The alarming rise in cybersecurity breaches has resulted in staggering financial losses, with the International Monetary Fund reporting that losses from cyber incidents have quadrupled since 2017. While the average loss hovers around $0.5 million, severe at-tacks can have catastrophic consequences, costing companies as much as $2.5 billion once every decade.

The sheer scale of these losses reiterates the urgent need for individuals and organizations to prioritize cybersecurity and protect their personal devices from the ever-evolving threats posed by cybercriminals. As the digital landscape continues to shift and vulnerabilities are exploited, it is crucial that we adopt a proactive approach to cybersecurity, rather than simply reacting to threats as they arise. Experts agree that a multi-layered approach to cybersecurity is essential, incorporating robust security measures, regular soft-ware updates, and a healthy dose of skepticism when interacting with online content.

One of the most critical steps in protecting personal devices is to ensure that all software and operating systems are up-to-date. In addition to regular updates, it is essential to adopt robust security measures, such as fire-walls, antivirus software, and encryption. These measures can help to prevent cybercriminals from gaining access to personal de-vices and extracting sensitive information. However, even with robust security measures in place, it is still possible for cybercriminals to exploit vulnerabilities in personal devices. This is why it is crucial to adopt a healthy dose of skepticism when interacting with online content. This includes being cautious when clicking on links or opening attachments from unknown sources, as well as being wary of phishing scams and other types of social engineering attacks.

As the digital landscape continues to evolve and cyber threats become increasingly sophisticated, it is clear that cybersecurity must be a top priority for individuals and organizations alike. By adopting a proactive approach to cybersecurity, incorporating robust security measures, regular software updates, and a healthy dose of skepticism, we can help to prevent devastating financial losses and protect our personal devices from the rising tide of cyber threats.”

Cybersecurity is no longer a luxury, it’s a necessity,” said Beckham Anderson, a leading cybersecurity expert. “As cyber threats continue to evolve, it’s essential that we stay one step ahead by adopting a multi-layered approach to cybersecurity. This includes regular software updates, robust security measures, and a healthy dose of skepticism when interacting with online content. “The rising tide of cyber threats poses a significant risk to individuals and organizations alike. However, by prioritizing cybersecurity and adopting a multi-layered approach to protecting personal devices, we can help to prevent devastating financial losses and safeguard our sensitive information. As the digital landscape continues to evolve, it is crucial that we remain vigilant and proactive in our approach to cybersecurity, ensuring that we are always one step ahead of the cybercriminals.