(WSVN) – Tonight, in an exclusive interview, federal prosecutors give us an inside look into the mysterious world of cryptocurrency crime. 7’s Karen Hensel investigates What a difference a year makes. Last December, FTX founder Sam Bankman-Fried was arrested a month after the cryptocurrency exchange he founded collapsed in stunning fashion. Damian Williams, U.S. Attorney for Southern District of New York: “This is one of the biggest financial frauds in American history.” Last month, Bankman-Fried was convicted on seven counts of conspiracy and wire fraud. A federal jury found he stole billions of dollars from customers, investors and lenders. Investors like Alex Chernyavsky. Alex Chernyavsky, lost money in FTX collapse: “It looks like it was a big fraud.” The engineer, who is an executive at a manufacturing company in Hollywood, put a lot of money onto the exchange last year. Alex Chernyavsky: “A hundred and fifty, yeah, $150,000.” A hundred and fifty-thousand dollars, lost. Alex said it was his first time trading in digital currency, but he trusted FTX, in part because of its celebrity endorsements. For a short time, even the home of the Miami Heat was called FTX Arena, before the company’s name became synonymous with fraud. But Alex does not feel sorry for himself. Alex Chernyavsky: “There’s no anger; it’s more like frustration. Nobody put a pistol on my head. I did it; it was my decision.” Alex is not alone. Americans have lost a lot of money in a wide variety of crypto crimes. Check out these numbers: Cryptocurrency investment fraud complaints went from $907 million in losses in 2021 to $2.57 billion in 2022. And following the money is not easy. Brooke Watson, Assistant U.S. Attorney, Southern District of Florida: “It’s just harder to trace, because it’s gone through multiple different exchanges.” Federal prosecutors Brooke Watson and Ali Comolli investigate crypto crimes. Ali Comolli, Assistant U.S. Attorney, Southern District of Florida: “It brings us into some of the darkest parts of the internet. It brings us to other countries and sometimes places where records are hard to obtain.” And it brings us to some pretty shady characters. Gal Vallerius, dubbed the Oxymonster, was sentenced to 20 years in prison for running a crypto-fueled, dark web marketplace for drugs. Ali Comolli: “He came to the United States in order to participate in a beard growing competition, and while he was here, he was ultimately charged here in the Southern District of Florida.” The FBI is still looking for Ruja Ignatova, known as the Cryptoqueen. She is accused of selling a bogus crypto coin that defrauded investors out of billions. Ali Comolli: “They certainly take advantage of the fact that this is new, and people think it’s exciting.” And crypto trading can be exciting. But it can also be devastating for those who aren’t careful. Brooke Watson: “When it comes to a coin you’ve never heard of before, that’s where I think people really get taken advantage of and really need to be careful, do their homework.” The age group most targeted by crypto scammers is 30- to 49-year-olds. And social media is where new victims are hunted.Brooke Watson: “Any of these, like online — Instagram, Snapchat, WhatsApp, Facebook — if people are soliciting you to invest in their cryptocurrency or their exchange on those platforms, I would pause.” As for Alex, he and other FTX investors are suing in hopes of getting their money back. Alex Chernyavsky: “I still hope I can recover something. I have some kind of hope.”Meanwhile, Bankman-Fried faces as much as 110 years in prison when he is sentenced in March.Karen Hensel, 7News. CONTACT 7 INVESTIGATES:305-627-CLUE954-921-CLUE7Investigates@wsvn.com Copyright 2023 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.