Losses From Investment Scams have Increased Six-Fold Since 2021

The Better Business Bureau reports a six-fold increase in investment scam losses since 2020, driven by romance-based “pig butchering” schemes and scams propagated via hacked social media accounts, with victim losses ranging from thousands to tens of thousands of dollars. The report highlights tactics such as promises of guaranteed returns, requests to share crypto wallets, pressure to invest in obscure cryptocurrencies, low-effort “secret strategies,” and sudden, unsolicited befriending, urging vigilance against these red flags.