Congress, close the crypto crime gap — before criminals get there first

Americans lost nearly $21 billion to fraud last year. In Oklahoma alone, more than $37 million was stolen through cryptocurrency-related scams.

Criminals are exploiting a system that hasn’t kept pace with how money now moves.

The FBI reports that cryptocurrency-related fraud losses have surged to more than 11 billion nationwide.

Investment scams tied to digital assets now account for the largest share of losses. Criminals move faster, scale faster, and target the least regulated pathways.

Sheriffs across this country are on the front lines of this fight — taking reports from victims, working with federal partners, and trying to trace money that can move across platforms and borders in minutes.

We see this every day. Just in the past month, a family in Yukon, Okla., was scammed out of nearly $100,000 over the course of a year. They believed they were investing their money, but when they tried to withdraw their funds, they discovered the account balance was zero.

Victims are directed to convert cash into cryptocurrency at kiosks or online platforms and send it to accounts controlled by criminals overseas. Within minutes, the money is gone. By the........

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