FBI Warns of 300% Surge in Crypto Scams Targeting Smartphones

The FBI has issued a public warning regarding AI-driven scams targeting smartphones, particularly aimed at cryptocurrency holders, urging caution when receiving calls or messages from unverified sources. The advisory highlights growing risks to crypto investors amidst rising smishing attacks. While there is no immediate market impact, the emphasis is on enhanced public vigilance and regulatory advisories.

The FBI, in cooperation with the U.S. Secret Service, has intensified efforts against smartphone-targeted scams, as AI and smishing methods grow more sophisticated. These scams primarily target cryptocurrency users, exploiting familiar call formats. The FBI's comprehensive advisory cautions against sharing financial information over unverified contacts, particularly for cryptocurrency investors. Collaboration with state authorities aims to monitor and mitigate potential digital threats effectively.

FBI's warning has sparked increased community awareness among cryptocurrency users. However, no direct financial impact has been observed as the advisory is mainly preventive. Public awareness campaigns are being reinforced to combat the threat. Potential outcomes include enhanced regulatory frameworks and technology interventions. Historical data reveals a recurring trend of smishing incidents, with similar scams previously documented in FBI reports since 2021, underscoring ongoing security challenges.

Earlier, FBI reports highlighted digital asset fraud as a frequent tactic used by scammers. The continuous rise in AI-driven cryptocurrency fraud illustrates the need for robust security measures and public cooperation. Experts emphasize the necessity for enhanced cybersecurity protocols and community education to counter these scams effectively. Historical trends suggest increasing sophistication in attack methods, pressuring regulatory bodies to adapt continually.

The Federal Bureau of Investigation (FBI) has issued a warning to smartphone users about a surge in crypto scams targeting individuals through their mobile devices. These scams involve criminals posing as law enforcement agents to trick victims into purchasing gift cards valued at $500 or $1,000 to "clear a red flag" from their accounts. The FBI emphasizes that it will never call individuals demanding money or gift cards, and any such calls should be considered fraudulent.

The scammers employ various tactics to deceive their victims, including creating a sense of urgency by claiming that an arrest is imminent unless the victim sends money. This tactic is designed to pressure victims into acting quickly without verifying the legitimacy of the call. The FBI advises that any request for payment via gift cards, wire transfers, or cryptocurrency should be treated with extreme caution, as legitimate government agencies will never ask for payment in these forms.

The FBI's warning comes as part of a broader effort to combat the rising tide of crypto-related scams. In 2024, Americans reported $9.3 billion in crypto-related scams, accounting for more than half of the $16.6 billion in total internet crime losses logged that year. Older victims were particularly targeted, highlighting the need for increased awareness and vigilance among all age groups.

In addition to crypto scams, the FBI has also alerted the public about investment club scams, which are often promoted on social media or messaging apps. These scams lure investors into pump-and-dump stock manipulation schemes, where scammers artificially inflate the price of low-priced stocks and then sell off their shares at a profit, leaving unsuspecting investors with significant losses. The FBI has seen a 300% surge in pump-and-dump complaints in 2025 compared to the previous year, underscoring the growing threat of these fraudulent activities.

To protect themselves from falling victim to these scams, the FBI advises investors to be wary of unsolicited investment tips received via text messages or social media advertisements. Scammers often mimic well-known financial advisors or wealth managers and offer "exclusive stock recommendations" through fraudulent online clubs. They may pressure victims to act quickly based on a supposed market-moving event or promise dramatic price increases. The FBI warns that any request for personal information or access to financial accounts should be treated as a red flag, as fraudsters can use stolen information to engage in manipulative activity.

The FBI's warnings serve as a reminder of the importance of staying vigilant against cybercrime. By educating the public about the tactics used by scammers and providing tips for protecting oneself, the FBI aims to reduce the number of victims and minimize the financial impact of these fraudulent activities. The FBI's official statement underscores the importance of not sending money, gift cards, cryptocurrency, or other assets to people you do not know or have met only online or over the phone.