In 2025, the number of identity spoofing crimes in the crypto industry increased by 1400%, and the average damage rose by more than 600%

Criminals impersonate exchanges and well-known individuals, combining social engineering with technical methods, and AI has made these schemes significantly more effective and profitable.

Total losses from all crypto fraud in 2025 are estimated at around $17 billion, with a significant portion attributable to identity spoofing schemes.