AI-Driven Scams Impersonate Crypto Influencer, Lead to $4M Loss
A recent incident has spotlighted the alarming rise in AI-powered scams within the crypto space. Scammers impersonated Scott Melker, host of The Wolf Of All Streets podcast, resulting in a $4 million loss for a victim. The fraudsters used AI-generated fake IDs, deepfake Zoom calls, and spoofed emails to bolster their scheme—going as far as impersonating Melker’s family.
This case reflects a growing trend, with other reports including AI voice scams and increasingly sophisticated deception tactics. Experts warn that these scams, while sometimes flawed, are becoming harder to detect. As AI tools improve, so does the scale and precision of social engineering in crypto fraud.
