# FBI report warns of new crypto courier scams and rising losses

**Published:** 2026-07-14T23:25:37.517Z  
**Topic:** Crypto Scam  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/d32a29fe-9580-4d24-8a37-8158b1801d80

FBI report reveals 73,000 crypto investment fraud cases and $8.6 bn losses, highlighting courier‑based “pig‑butchering” schemes targeting seniors.

1. The FBI’s July 15 public service announcement warned that scammers are now using cash couriers to bypass bank checks, a tactic that helped generate over $8.6 bn in crypto‑related losses last year—the largest loss figure among all cyber‑crime categories [1].

| At a glance | |
|---|---|
| Cases reported | 73,000 investment fraud cases (2023) |
| Total losses | $8.6 bn (crypto‑related) |
| New tactic | Cash‑courier pickups to force continued investment |
| Target group | Seniors, often via romance or “love‑bombing” scams |

## How the courier scheme works  
The FBI says fraudsters first convince victims—often through social media, unsolicited texts, or a fabricated “crypto‑expert” persona—to invest in bogus trading schemes. After the victim withdraws funds, scammers provide a serial‑numbered dollar bill or password to authenticate a cash courier’s arrival. The courier delivers cash, after which the victim sees a fabricated profit increase in the scammer’s platform, only to be looped back into paying fake taxes or penalties [1]. This “pig‑butching” cycle extends the fraud’s lifespan and makes detection harder for banks, which are increasingly able to block suspicious transfers but are being sidestepped by in‑person cash exchanges.

## Scope and impact on older adults  
Separate research shows older adults are disproportionately affected. In 2025 the Internet Crime Complaint Center logged more than 13,400 crypto‑ATM‑related reports, with losses exceeding $388 million; more than half involved victims aged 50 plus [2]. The average loss per victim jumps from $20,699 across all cybercrime to $62,604 when cryptocurrency is involved, underscoring the heightened financial risk for seniors [2]. The FBI’s warning aligns with these trends, noting that scammers also use “love‑bombing” and fake government calls to pressure victims into cash‑courier transactions [1].

## Comparative figures from the UK  
UK Finance data released on June 15 show a similar pattern: investment fraud accounted for £221.5 million ($297 million) of authorized push‑payment fraud last year, a 40 % year‑on‑year increase, with case numbers rising 26 % to 14,893 [1]. These figures illustrate that the courier‑based approach is not confined to the United States but reflects a broader, trans‑national escalation in crypto‑related fraud.

## What to watch  
- Monitor any rise in reports of cash‑courier pickups linked to crypto platforms, especially those involving “flagged” accounts.  
- Watch for regulatory alerts or FBI advisories that specifically address courier‑based schemes, as they may signal shifts in scam tactics.  
- Track the volume of crypto‑ATM complaints involving seniors, which could indicate whether the courier method is spreading to other offline channels.

The FBI’s latest alert highlights a chilling evolution in crypto fraud: by moving the transaction off‑line, scammers evade banking safeguards and trap victims in a repeat‑offender loop. Whether law‑enforcement and financial institutions can adapt to this cash‑centric model remains an open question.

## Sources
1. Infosecurity-magazine.com — [FBI Warns Courier Cash Pickups Are Driving Crypto Scams](https://www.infosecurity-magazine.com/news/fbi-warns-courier-cash-pickups/)
2. CoinTelegraph — [Why older users are losing so much money to crypto ATM scams](https://cointelegraph.com/learn/crypto-atm-scams-older-adults)

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Cite as: TrendWatcher, "FBI report warns of new crypto courier scams and rising losses", https://www.trendwatcher.in/article/d32a29fe-9580-4d24-8a37-8158b1801d80