According to a report by Carlson Law, investment scams, particularly those related to cryptocurrency, resulted in record losses of $2.57 billion out of a total of $3.82 billion in 2022. Fraudsters are using advanced techniques such as AI and voice cloning to deceive victims into investing. California has been the most affected state, with $870 million in losses and an average loss per victim of $176,463.

The report recommends that investors be cautious of deep fake videos and conduct background checks on those offering investment opportunities. The report also identifies the "pump and dump" scheme as a common scam and advises people to check trading activity over several months and seek expert advice before investing. A recent study found that crypto investment scams cost Americans $2.57 billion in 2022, highlighting the importance of being vigilant and informed when investing.