Cryptocurrency has become a haven for scammers, drug traffickers, and human traffickers, costing South Dakotans millions in losses and fueling online crime. According to the 2024 FBI Internet Crimes Complaint Center report, South Dakota reported $13.8 million in cryptocurrency-related losses in 2024 alone. Victims older than 60 years old accounted for $7.8 million in reported losses in 2024.
The concentration of losses among older adults highlights the vulnerability of this demographic to cryptocurrency scams and related fraud. Authorities and consumer protection groups emphasize vigilance, education, and prompt reporting to mitigate harm and improve crisis response. These figures illustrate the ongoing risk of cryptocurrency-related fraud across the state and the need for strengthened awareness, secure practices, and robust reporting mechanisms to curb online crime.
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