The FBI reported saving potential victims from losing $285 million through cryptocurrency scams thanks to the 'Operation Level Up' initiative.
Operation 'Level Up'
The FBI conducted an initiative named 'Operation Level Up', helping save millions from crypto scammers known as 'pig butchering'. This proactive initiative aims to identify and notify victims of cryptocurrency investment fraud.
How Potential Victims Were Saved
As of January 2025, the FBI contacted over 4,300 people, potential victims who nearly lost their funds. Assistance included warning individuals who were about to invest $1 million and another planning to sell their home for $500,000. The intervention helped them avoid significant losses.
Tips for Protection against Scammers
The FBI notes that scammers are skilled professionals. Those most at risk include people aged 30 to 60, tech-savvy investors. Apart from social media, scammers target individuals through text messages, investment groups, and dating websites. The best way to avoid being scammed is to 'take a beat' and evaluate the offer for any 'false sense of urgency'.
The FBI is actively working to prevent cryptocurrency scams by informing people about potential threats and protection methods. In 2023, complaints about crypto scams reached $3.9 billion, and their efforts will help prevent future incidents.
