The impact of cybercrime is significant, with Hacker Nation ranked as the world's third-largest economy due to costs reaching $6 trillion, surpassing Japan's economy. In 2023, cybercrime losses hit a record high with the FBI receiving over 880,000 complaints totaling $12.8 billion. Authorities have brought federal charges against over 3,500 individuals, accounting for $2 billion in losses and recovering $1.4 billion. A global study reveals the US as a hotspot for cybercrime, while Russia is named the biggest cybercrime hotspot in the world.