New York State's Crypto-Related Losses Expected to Reach $593 Million in 2025

A report released by blockchain analytics firm Crystal Intelligence indicates that New York State's crypto-related losses are projected to reach $593 million in 2025, ranking fourth in the nation. The report highlights that the average loss per complaint has surged by 57.5% year-on-year to $73,364, suggesting that fraudulent activities are specifically targeting high-net-worth individuals and institutional investors. Analysis shows that among the 48 services related to New York State, 1,156 listings almost entirely involve cash settlements, with no records of traditional bank transfers. Notably, 56% of the services offer privacy coin Monero, indicating that service providers are intentionally avoiding traceability, with some services also mentioning international sanctions banks. The report further notes that the 11 most active services account for 59% of the total listings in the state, making them viable targets for concentrated enforcement efforts.

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