AI chatbots, deepfake software, and fake ID generators help automate crypto scams
AI tools like chatbots, deepfake software, and fake ID generators are playing a growing role in facilitating crypto scams đ»đž, according to the 2025 Crypto Scams Report by Elliptic.
Key Findings:
A large portion of fraud-related losses đ° in crypto were reported last year. The FBI states that $9.3 billion of the $16.6 billion fraud losses in the U.S. were crypto-related.
In 2024, AI tools helped automate and scale up scams like sextortion, pig butchering, rug pulls involving memecoins, and deepfake scams.
How AI Tools Fuel Crypto Crime:
AI chatbots đŁïž and deepfakes đ€ make it easier for criminals to deceive victims, even breaking linguistic barriers đ.
Deepfake videos with celebrity endorsements đŹ are used to trick victims into giving up their funds or credentials đł.
North Korean hackers have even used deepfakes to impersonate crypto executives đ€, while also distributing malware through video calls đ.
đš Growing Threat:
Scams are now considered the most lucrative form of illicit activity đž in crypto, surpassing even dark web drug markets đ«đ.
Illicit online marketplaces selling to fraud rings have processed over $30 billion in crypto, far exceeding drug trade volumes.
As the crypto space grows, so does the need for caution â ïž. Stay alert, and always verify before sharing funds or personal info.
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