The Internet Crime Complaint Center (IC3) revealed that, over the past year, U.S. citizens lost a record $20.9 billion to cybercrime. In light of this alarming scenario, FBI Director Kash Patel firmly warned via social media that the agency will not tolerate decentralized financial systems being used to accumulate illicit gains.
Crypto Fraudsters have been scamming and taking advantage of the America people for too long.
No more! This FBI will find you, and we will bring you to justice!
-DKP🇺🇸 pic.twitter.com/qfJU9hCKnn
— FBI Director Kash Patel (@FBIDirectorKash) June 19, 2026
Cryptocurrency fraud has become the main driver of these losses, accounting for more than half of the national total with an impact of $11 billion. Criminals exploit the anonymity of blockchain technology to execute sophisticated tactics such as pig butchering, fake exchanges, and scams in DeFi protocols, disproportionately affecting older adults in key states like California, Texas, and Florida.
To mitigate this crisis, the FBI announced the expansion of tracking and digital asset recovery operations after successfully freezing more than 3,000 illicit wallets, saving approximately $500 million in stolen funds.
Source: https://x.com/FBIDirectorKash/status/2067951819041452236
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