Americans reported losing $5.6 billion to cryptocurrency scams in 2023, with older Americans hit the hardest, according to the FBI.

Crypto scams, including pig butchering, cost Americans $5.6 billion in 2023, according to a new report from the FBI. People over 60 are prime targets.

Americans were duped out of more than $5.6 billion last year through fraud schemes involving cryptocurrency, the FBI said.

The FBI said in its first-ever Cryptocurrency Fraud Report that people ages 60 and older filed more than 16,000 complaints alleging more than $1.6 billion of losses.