Deepfake scams fuel $4.6B in crypto losses, report warns

A joint report by Bitget, SlowMist and Elliptic reveals a sharp rise in AI-driven crypto scams, Cointelegraph reported. In Q1 2025 alone, 87 deepfake scam rings were dismantled, and nearly 40% of high-value fraud cases in 2024 involved deepfake technology. Global crypto scam losses rose 24% year-over-year, hitting $4.6 billion. The report highlights deepfake impersonations, social engineering and Ponzi-style frauds as the most common tactics, urging stronger verification practices and cybersecurity training to combat these evolving threats.