#CryptoScamSurge

There has been a sharp rise in cryptocurrency fraud activity, with total fraud losses in 2024 estimated at around $4.6 billion, an increase of nearly 24% from 2023 - deepfake scams and AI-driven phishing dominate this rise. 'Fraud' schemes alone have cost investors over $5.5 billion through prolonged emotional or investment deception (Cointelegraph). Experts warn that 2025 could be the worst year yet for cryptocurrency scams, as generative AI enables scalable impersonation and social engineering hacks disguised as job offers or fake reward distributions. As the professionalism of fraud networks increases, victims are losing increasingly large amounts before suspecting fraud. Vigilance, verification, and tightening regulatory frameworks are key factors in stopping this phenomenon.