FBI: Crypto Fraud Cost Alaskans $11.7 Million Last Year
Alaska residents are losing millions to online scams, and cryptocurrency is increasingly at the heart of the damage. According to the FBI’s 2024 Internet Crime Report, Alaskans lost a staggering $26.2 million to internet crimes in 2023. Nearly half of that—over $11.7 million—was linked to crypto-related fraud.
While overall internet crime losses dropped from $31.7 million in 2022, Alaska’s trend bucks the national direction. Across the U.S., reported losses jumped from $12.5 billion to $16.6 billion in the same timeframe, underscoring the unique cybercrime landscape faced by Alaskans.
The Anchorage office of the FBI emphasized the growing role of cryptocurrency in these crimes, calling attention to the rapid and irreversible nature of digital asset transactions.
“In Alaska, approximately 45% (over $11.7 million) of reported losses were cryptocurrency related,” the office said in a statement.
Older Alaskans Suffer Disproportionate Losses
Among those hit hardest are Alaska’s senior citizens. Though people aged 60 and older represented just 7% of internet crime reports, they suffered nearly one-third—roughly $8.2 million—of all financial losses in 2023.
“The [Internet Crime Complaint Center’s] accompanying state report indicates all age groups in Alaska were impacted by internet crimes; however, those over the age of 60 accounted for the highest reported losses, including the highest reported losses involving cryptocurrency transactions,” the FBI Anchorage office said.
Rebecca Day, special agent in charge of the Anchorage division, said the irreversible nature of crypto transactions makes early detection and prevention critical.
“Once you send that cryptocurrency to the other person, that is immediate, and then what we see is those fraudsters immediately take that transaction and move it overseas, where law enforcement cannot get to it,” Day explained. “However, if you utilize a traditional banking transaction, typically that has a day or two of processing.”
Investment Scams and Business Email Compromise Among Top Threats
Three types of fraud made up the majority of reported losses in Alaska last year: investment scams, compromised business emails, and tech-support fraud.
Day explained that investment scams frequently mimic Ponzi or pyramid schemes. These scams are often disguised as low-risk opportunities with high returns, a deceptive tactic that has ensnared numerous victims across the state.
“Usually [these] offer large returns with minimal risk,” Day said.
Business email compromise—another common tactic—involves attackers posing as trusted colleagues or financial partners to trick victims into revealing account credentials or approving fraudulent transactions. In some cases, scammers manipulate password reset requests to gain control over victims’ email or financial accounts.
Fraudulent tech support schemes are also on the rise. In many instances, victims are contacted directly by scammers offering to resolve supposed technical problems—an unsolicited interaction that Day says should raise alarm bells.
“If you have someone contacting you for tech support that you have not initiated, that would be a big, big red flag,” she said.
A Call to Awareness and Action
Day stressed the importance of taking a moment to evaluate suspicious situations, especially when scammers create a false sense of urgency.
“Please look for those red flags,” she said. “It’s really important to take a beat and stop and think about what you’re doing before you make these transactions. If somebody is pressuring you to do this quickly or telling you not to tell anybody else about it, those are huge red flags, and that’s a good time to stop.”
In addition to personal vigilance, Day urged Alaskans to report suspected online crimes not only to the FBI but also to other law enforcement agencies and financial institutions. Open discussions with friends and family members—especially older or vulnerable individuals—can also prevent victimization.
“Talk to your loved ones about this, especially that more vulnerable population out there,” she said. “Make sure that they understand some of these red flags, and that you go ahead and establish that relationship so that they view you as a trusted person to talk to about this.”
More Than Just Stolen Funds
For Day, the harm caused by online scams goes far beyond dollar amounts.
“This isn’t just stolen money. It’s stolen savings, retirement funds, and education funds of our next generation,” she said. “It’s all these funds that hard-working Americans have saved up, and not only that, it’s siphoned from our local economy.”
To combat these growing threats, the FBI continues to share educational resources and warnings through its Internet Crime Complaint Center. A dedicated section on the bureau’s website offers guidance on avoiding cryptocurrency scams and recognizing fraudulent behavior before it’s too late.
