Investment Scams Surge Across the US as Fraudsters Exploit Social Media, Texts, and Crypto Boom

If you’ve ever received a random “Hi, how are you?” message from a stranger on text or social media, it may not be an accident. While sometimes harmless, these unexpected greetings are increasingly being used by cybercriminals attempting to draw victims into investment schemes.

According to data from broker comparison platform Broker Chooser, investment-related fraud has become the fifth most common scam in the US. In just the first six months of 2025, more than 66,700 incidents were reported, with losses surpassing $3.5 billion. Cryptocurrencies remain a major target, and scammers pocketed $939 million in digital assets—an increase of $261 million from the same period last year.

Because these schemes prey on individuals hoping to grow their money quickly, the financial damage is substantial. The median loss per victim hit $10,000 in early 2025, rising from 2024’s median of $9,300. Broker Chooser notes this is the highest median loss of any scam category, dwarfing the second-highest—business and job fraud—by 376%.

Certain states are being hit harder than others. Nevada ranks first, logging 211 cases per million residents and more than $40.4 million in losses. Arizona follows with 202 cases per million and over $95.1 million lost. Florida comes in third with 185 reports per million residents and a staggering $241 million in t

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