INDIANAPOLIS, IND. (WOWO) New analysis of FBI data shows a sharp rise in online scam losses among Indiana residents under the age of 30, with cryptocurrency-related fraud driving most of the increase, according to digital forensics firm CNC Intelligence.
The Lead Off
- Under-30 Hoosiers lost $12.8 million to scams last year, up 388% from the prior year
- Crypto-related fraud accounts for 71% of all scam losses in this age group in Indiana
- Average loss per victim has more than tripled, according to FBI data analysis
Scam losses surge among young adults
A new report based on FBI data shows Indiana residents under 30 lost $12.8 million to online scams last year.
That figure is up from $2.6 million the previous year, representing a 388% increase, according to CNC Intelligence.
The report says Indiana recorded the third-highest growth rate in the country for this demographic.
Cryptocurrency drives majority of losses
Researchers say cryptocurrency-related scams are the primary driver behind the increase.
Under-30 crypto losses in Indiana rose 776% in one year, increasing from $1 million to $9 million.
Crypto now accounts for 71% of all scam-related losses among Indiana residents under 30, compared to a national average of 47%.
The average loss per victim also rose significantly, increasing from $1,451 to $5,074.
Social media and targeting tactics
The analysis points to social media as a key factor in how scams reach younger victims.
According to the report, Gen Z users are more likely to receive financial advice through platforms such as TikTok, Instagram, and Discord, where scammers often operate fake investment groups or impersonate trusted figures.
Schemes cited include fake mentorship accounts, “pump-and-dump” crypto schemes, and fraudulent celebrity endorsements using manipulated or AI-generated content.
Experts warn of growing risks
Matthew Stern, CEO of CNC Intelligence, said individuals should be cautious when approached with investment opportunities online.
“Before investing in cryptocurrency, verify opportunities carefully,” Stern said. “Consult trusted advisors and be extremely sceptical of promises of high returns with minimal risk, especially if they come from someone you have only met online. If something sounds too good to be true, it usually is.”
Context and outlook
The report notes that nearly half of Gen Z has owned or currently owns cryptocurrency, nearly double the rate of older generations, increasing exposure to digital financial scams.
Researchers say the combination of high social media engagement and growing crypto adoption has created new vulnerabilities that scammers are increasingly exploiting.
The Takeaway
- Indiana under-30 residents experienced a major spike in scam losses last year, reaching $12.8 million with a 388% increase driven largely by cryptocurrency fraud.
- Crypto-related scams now account for the majority of losses among young victims in the state, with average losses per person more than tripling year over year.
- Experts say social media platforms and rising crypto adoption among Gen Z are key factors fueling exposure to increasingly sophisticated online fraud schemes.
