(2020–2024)
This report highlights the evolving landscape of Maryland Cryptocurrency Scam affecting Maryland residents over the past five years. Reported cases jumped from around 24 in 2020 to over 1250 in 2024. However, Safefunds Recovery’s internal analysis suggests that only about 1 in 16 victims formally report these incidents. Many attribute their losses to ‘bad investments’ rather than recognising them as fraud. Crypto Recovery Needs gives you full information about recovering scammed crypto, recovering funds from crypto scams and recovering money from crypto scams. As a result, the true number of cases may be exponentially higher.
Dramatic Increase: Scam reports grew by more than 52.1x between 2020 and 2024.
2024 Highlights:
– A notable incident where a victim lost over $500,000 via a fake cryptocurrency exchange.
– County authorities reported a sharp increase in scams targeting elderly residents.
2023 Data Points:
– Over 470 complaints filed from Maryland with the FBI’s IC3.
– FBI Internet Crime Complaint Center (IC3)
– Federal Trade Commission (FTC)
– Regional media and public records for Arizona
– Safefunds Recovery internal analysis
Data for 2020–2022 includes projections based on complaint patterns and partial datasets. Figures for 2023–2024 are sourced from full, verified public records and Safefunds Recovery’s internal research.