NY Crypto Losses Hit $593M in 2025, Avg Claim Surges 57.5%

New York recorded $593M in crypto losses for 2025, ranking fourth nationally. Average claims jumped 57.5% to $73,364, highlighting targeted fraud against high-net-worth entities.

Woofun AI data shows that New York State incurred $593 million in cryptocurrency-related losses during 2025, placing it fourth in the United States. The average loss per complaint increased by 57.5% year-on-year to $73,364.

An analysis of cash-for-crypto aggregation sites identified 1,156 listings in New York involving physical cash settlements without traditional bank transfer records. Of these, 56% offered Monero, with some referencing sanctioned banks. The 11 most active services accounted for 59% of all state listings.