Deepfake spoofs generated by government officials, billionaires and celebrity AIs accounted for 40% of “high-value scams” in 2024. Report It has been revealed.
In the same year, $4.6 billion in code was lost to fraud. This is an increase of 24% from the previous year. Bitget’s anti-Scam report 2025 wrote CO for Slowmist and Elliptic.
“Crypto fraud has entered a new era driven by the aspects of AI deepfake, social engineering and deceptive projects,” the report states. “Fraud is now leveraging just as much trust and psychology as technology. From wallet acquisitions to multi-million dollar fraud, attacks are becoming more personalized, more trustworthy and harder to detect.”
According to the report, the “frequent” deepfakes that appeared were Tesla CEO Elon Musk pitching fraudulent investments or giveaway schemes. Other uses for deepfake include bypassing Know customer verificationCreate a virtual identity to lead investment fraud and carry out fake zoom phishing attacks.
Zoom scam Seeing con artists impersonating executives, experts and journalists –include Decryption Reporter– Get victims with fraudulent video calls. This may cause an attacker to provide work to the victim or ask them to interview articles that do not exist. During a fake zoom call, the attacker can gain control of the victim’s computer, steal data and access a private encryption key.
Bitget reports that in some cases, attackers use deepfake tools to generate video and audio content to trick victims into joining the call.
Many of these deepfake scams are not new. Elon Musk Scam went viral first However, it’s 2022. However, with the rapid acceleration of artificial intelligence, deepfakes have begun to look real. President Trump signed a bipartisan signing Please defeat it Last month, we protected the victims of deepfalk porn, but deepfakes are not banned in general yet.
May, actor Jamie Lee Curtis called on Meta CEO Mark Zuckerberg After discovering ads generated by their own fake AI advertising the product without her consent.
“The biggest threat to crypto today is not volatility. It’s a deception,” said Bitget CEO Gracy Chen. release. “AI makes fraud faster, cheaper and more difficult to detect.”
Outside of deepfakes, social engineering and modern Ponzi schemes ranked second and third in the report as the “most dangerous” scams.
By definition, social engineering scams utilize victim psychology in a way that is “low-tech yet extremely effective,” the report says. One of the most common examples is Pork shop scamAlso known as a Romance scamsees attackers establish fraudulent relationships only with the victim.
The ol’Classic Ponzi scheme was later named Early 20th century con man Charles Ponge– The report claims that fraud has experienced a “digital evolution.”
“These scams are usually hidden in new concepts such as Defi, NFTS, GameFi, and more packaged as project funding, liquidity mining, or platform token staking,” the report said. “Essentially, they remain the classic Ponzi scheme of “new money filling the old hole.” If cash flow gets corrupted or the operator cashes out and leaves, the entire system will quickly collapse. ”
The report points to an increase in Ponzi schemes that will increase the reliability of the scheme, employing a “game-like user interface” and using deepfakes to build approval from celebrities. AI revolutionized the fraud industry, bringing a significantly different landscape than it did just a few years ago.
“Five years ago, avoiding fraud meant ‘don’t click on suspicious links’,” the report ended. “Today, it’s “Don’t trust your own eyes.” ”
Edited by James Rubin
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