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Technology
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Jul 03, 2025
AI tools facilitate automation of crypto scams
AI is making crypto scams smarter and harder to spot, according to a new report from Elliptic, Bitget, and SlowMist.
Scammers are now using AI chatbots, deepfake videos, and fake ID generators to pull off everything from memecoin rug-pulls to sextortion and impersonation schemes—even across different languages.
TL;DR
Crypto scams cost Americans $9.3 billion last year
Crypto scams cost Americans $9.3 billion last year alone—more than half of all fraud losses. Illegal crypto markets have even outpaced old-school dark web drug sales.
To fight back, exchanges like Bitget are rolling out anti-scam tools and education campaigns.
The report urges the industry to work together on stronger security so people can invest without fear of AI-powered frauds.