The FBI has prevented cryptocurrency frauds worth $285 million as part of Operation "Level Up," helping over 4,300 victims avoid losses since January 2024

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The FBI, as part of Operation "Level Up," has prevented cryptocurrency frauds worth around $285 million since January 2024, notifying more than 4,300 individuals about potential threats. Fraudsters used "romantic" and "pig butchering" scam schemes, manipulating victims with a false sense of urgency. In 2023, Americans lost over $5 billion to cryptocurrency fraud, mostly among elderly people. The FBI also froze $6 million in cryptocurrency wallets of scammers. A rise in fraud is expected due to the development of artificial intelligence.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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