- FBI says scammers now use couriers to collect cash from crypto investment fraud victims.
- Fraudsters bypass bank scrutiny by setting up in-person cash pickups through couriers.
- Operation Level Up identified 8,100 victims and prevented $511M in additional losses.
The FBI has identified a growing tactic in cryptocurrency investment fraud where scammers dispatch couriers to collect cash directly from victims after convincing them they are investing in legitimate digital asset platforms. The method marks a new stage in the evolution of investment fraud schemes that have already generated billions of dollars in losses globally.
According to information released by the agency, criminals increasingly rely on in-person cash pickups when traditional banking channels raise red flags. The approach allows fraud networks to bypass financial safeguards while maintaining the illusion that victims are participating in a legitimate investment process. Authorities said older Americans remain among the most frequently targeted groups.
How Investment Fraud Networks Use Couriers to Collect Funds
Investigators said the fraud typically begins with unsolicited contact through social media platforms, text messages, dating applications, or professional networking sites. Scammers spend weeks or months building trust before introducing what appears to be a profitable cryptocurrency investment opportunity.
Victims are then directed to fraudulent trading platforms displaying fabricated account balances and fictional profits. The false gains are designed to encourage larger investments and reinforce confidence in the scheme.
However, the FBI reported that problems arise when victims attempt to transfer larger sums or withdraw funds. If banks identify suspicious activity, fraudsters often instruct victims to withdraw cash instead. The money is then handed to couriers posing as representatives of the investment platform.
To strengthen the deception, couriers may use passwords, serial numbers from banknotes, or other verification methods arranged in advance. Once collected, the cash is moved through criminal networks, making recovery efforts significantly more difficult.
Crypto Scam Losses Surge Despite Ongoing Enforcement Efforts
Authorities said victims are frequently told that additional payments are required to unlock profits, resolve account issues, or satisfy taxes and compliance obligations. These claims often trigger multiple cash pickups before victims realize the investment platform never existed.
The warning comes amid continued growth in cryptocurrency-related fraud. Through its Operation Level Up initiative, the FBI reported that more than 8,100 victims had been identified and notified by late 2025. The agency said 77% of those individuals were unaware they were being targeted when contacted.
Per the report, Operation Level Up is estimated to have prevented more than $511 million in additional losses. Separately, blockchain analytics firm Chainalysis estimated that crypto scams and fraud generated at least $17 billion in illicit proceeds during 2025, underscoring the scale and persistence of the threat facing investors.
Related: TRM Labs Warns of Crypto Scams Targeting FIFA World Cup Fans
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
