California Regulator Warned of 7 New Types of Cryptocurrency and AI Scams

The California Department of Justice claims to have dismantled 42 cryptocurrency scam websites in 2024 that had stolen $6.5 million from users.

A financial regulator in California reports that users have reported seven new types of scams related to cryptocurrencies and artificial intelligence that had not been seen before, through thousands of complaints in 2024.

The California Department of Financial Protection and Innovation (DFPI) stated in a press release on March 10 that it received 2,668 complaints in 2024 and detected seven types of scams that it had not previously recorded, such as fake Bitcoin mining schemes

BTC

€73,632

, in which scammers offer fraudulent investments in mining.

The DFPI also received complaints about fake crypto gaming schemes, where users are incentivized to deposit funds only for their wallets to be emptied, as well as about scammers offering fake jobs that require victims to transfer cryptocurrencies and provide private information.