Cybercriminals are becoming more clever every year when it comes to exploiting the trust of social media users and this translates into increased earnings. Social media-powered spear phishing attacks have achieved a 30 to 60% success rate. Criminals have been able to gain $1.9 billion via illegal pharmaceutical sales, $630 million from stolen data trading, $250 million using cryptomining malware, about $138 million via romance/dating fraud, and roughly $481 million by committing digital currency and financial fraud.
Source: https://www.bleepingcomputer.com/news/security/social-media-attacks-generate-325-billion-for-crooks-each-year/