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 ๐ป๐ธ, according to the 2025 Crypto Scams Report by Elliptic.
Key Findings:
A large portion of fraud-related losses ๐ฐ 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 ๐ฃ๏ธ and deepfakes ๐ค make it easier for criminals to deceive victims, even breaking linguistic barriers ๐.
Deepfake videos with celebrity endorsements ๐ฌ are used to trick victims into giving up their funds or credentials ๐ณ.
North Korean hackers have even used deepfakes to impersonate crypto executives ๐ค, while also distributing malware through video calls ๐.
๐จ Growing Threat:
Scams are now considered the most lucrative form of illicit activity ๐ธ in crypto, surpassing even dark web drug markets ๐ซ๐.
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 โ ๏ธ. Stay alert, and always verify before sharing funds or personal info.
๐ Follow me for more latest updates and insights ๐
Thankyou