Scam texts targeting U.S. residents have become increasingly prevalent, with fraudulent investment and cryptocurrency opportunities being the most common trap in 47 states, according to a recent analysis from cybersecurity firm McAfee. Only Michigan, Maine, and North Dakota are exceptions to this trend.
These investment scams often begin subtly, with unsolicited texts masquerading as communications from financial advisors or misdialed numbers. However, the conversations typically escalate to soliciting investments or money. Abhishek Karnik, head of threat research at McAfee, notes that scammers frequently shift discussions to less monitored platforms like WhatsApp or Telegram.
The rise of cryptocurrency and easily exploited payment methods contributes to the proliferation of these scams. Payments made via cryptocurrencies or gift cards are nearly impossible to trace and recover, increasing the risk for victims. The Federal Trade Commission (FTC) reported over $7.9 billion in losses to investment scams in 2025, with a median loss exceeding $10,000, making it the most damaging type of fraud. Furthermore, the Better Business Bureau highlighted that over 77% of those targeted by these scams suffered financial losses.
As artificial intelligence enhances fraudulent messaging, scams can be tailored to sound increasingly convincing across different languages and demographics. McAfee’s findings indicate that states like Alabama, Georgia, and Mississippi receive the highest volumes of scam texts per device.
To safeguard against financial scams, experts recommend verifying the identity of anyone claiming to represent a financial institution through official channels, treating promises of high returns as cautionary signals, and being vigilant about red flags such as abrupt messaging or pressure to invest.
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