AI deepfake is the biggest threat of cryptography: bitget, slowmist, oval warning

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New joint reports from Bitget, Slowmist and Elliptic highlight the rapid rise in AI-powered crypto crime.

Crypto crime is evolving and is increasingly targeting human psychology as an attack vector. According to a report released on Tuesday, June 10th, social engineering scams are becoming more common, with many people using AI to increase their success rates.

“In 2024, almost 40% of high-value frauds were related to Deepfark technology. And the Trojan recruitment and “staking platforms” like Ponzi behind most frauds are some sort of social engineering designed to exploit trust, fear, or greed,” Bitget reports.

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For example, fraudsters use videos generated by AI of famous figures, including Elon Musk, to create social evidence for fraud projects. AI video is also used to bypass the KYC system and seduce victims into live phishing zoom calls.

Other types of social engineering scams are emerging in the job market. Scammers often pause as recruiters looking for developers, instructing job seekers to download what appears to be a task project. In fact, the file contains a Trojan virus that can take over the victim’s computer.

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How to protect yourself from AI Crypto scams

Blockchain security company SlowMist provides an overview of some of the steps users can take to avoid collapse of victims of fraud. First, users should be extremely skeptical of promotional content on social media. You should pay attention to your job, chat trading bot, or posts that offer high staking returns.

Social engineering scams often create false sense of urgency. Traders should always pause to consider whether the offer appears too good. The same applies to public figure videos that encourage cryptographic launches. Users must verify through official websites or trustworthy news sources.

“Bottom line? In an age where AI can be mimicked by anyone, security needs to start with skepticism and end with collective defense,” Bitget reports.

SlowMist also warns against clicking on a link or downloading files shared in group chats or social media comments. Tools like camsniffer can help by automatically blocking phishing links. For suspicious lag pulls, users can check the mist track to see if the wallet address is tied to a known scam.

read more: Analyst: Google at Crypto Deepfake Scams “Sleeping”