$12.7 Billion in Crypto Scam Activity Linked to Foreign Scam Centers: FinCEN

Financial institutions in the US have reported over $12.7 billion in suspected cryptocurrency scam activity to FinCEN, according to the agency's latest analysis.

The review of Bank Secrecy Act reports covering September 2023 to December 2025 found that scammers often convert their ill-gotten gains into stablecoins before moving funds through wallets and exchanges.

Victims are advised to contact their bank or exchange immediately and report the incident to the FBI's IC3, with FinCEN also offering a Rapid Response Program to coordinate with foreign financial intelligence units for transaction freezes and fund recovery.