An updated report from the Consumer Federation of America (CFA) projects that Americans are losing an estimated $148.2 billion every year to online scams. Over half of all reported losses involved cryptocurrency. This number is up 21.93% since 2024. Drawing on new data from the IC3 and the U.S. Census Bureau’s 2024 American Community Survey (ACS), we estimate the true cost of scams and crimes at $1,009 per U.S. household.

The report also identifies Meta's platforms — Facebook at 57%, Instagram at 22%, and WhatsApp at 8% — as the top three online platforms associated with scams, according to the Better Business Bureau. The Global Anti-Scam Alliance has also found that 81 percent of all scam attempts in the US occurred on platforms with a direct message function.