Texas Residents Lose $636 Million to Investment Scams in 2024

FBI data shows investment fraud was the costliest internet crime in the state last year, driving $1.35 billion in total online losses.

Jan. 27, 2026 at 6:07pm

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According to FBI figures, Texans lost a staggering $635,887,222 to investment fraud in 2024, making it the single most expensive category of internet crime in the state that year. The total internet crime losses for Texans reached around $1.35 billion, with investment scams, crypto cons, and "pig butchering" schemes targeting residents, especially those aged 60 and older.

Why it matters

The massive scale of the investment fraud losses in Texas highlights the growing threat of cyber crime and the need for greater awareness and education around recognizing scams. The data also underscores the financial toll these crimes can take on individuals, families, and communities.

The details

The FBI's Internet Crime Complaint Center (IC3) logged more than 859,000 complaints nationwide in 2024, with investment fraud being one of the most financially damaging types of internet crime. The FBI's Dallas field office reported that the state's investment fraud total was precisely $635,887,222 for 2024. Law enforcement and fraud experts say the scams often involve crypto-focused cons, fake trading platforms, and "pig butchering" schemes that start on social media or messaging apps and pressure victims to transfer funds.

  • In 2024, Texans reported around $1.35 billion in total internet crime losses.
  • The $635,887,222 in investment fraud losses in Texas occurred in 2024.

The players

FBI

The Federal Bureau of Investigation, which tracks internet crime data through its Internet Crime Complaint Center (IC3).

Texas State Securities Board

A state agency that offers complaint portals and investor education to help Texans recognize and report investment scams.

Texas Attorney General

The state's top law enforcement office, which also provides resources for Texans to report and learn about investment fraud.

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What they’re saying

“Cyber crime remains a serious and growing threat to Texans, with victims losing millions of dollars annually.”

— John Morales, Special Agent, FBI El Paso

What’s next

Individuals who have lost money to investment scams are advised to report it to the Internet Crime Complaint Center (IC3), contact their bank, and notify local police. They can also file complaints with the Texas State Securities Board and the Texas Attorney General's office to help authorities investigate patterns and potentially recover stolen funds.

The takeaway

The staggering $636 million in investment fraud losses suffered by Texans in 2024 underscores the urgent need for greater public awareness and education around recognizing and avoiding scams. By reporting incidents and working with state and federal agencies, Texans can help combat this growing threat and protect vulnerable residents, especially older adults, from devastating financial harm.