The escalation of AI technology has led to an alarming rise in AI-powered frauds. Bitget’s 2025 Anti-Scam Month Research Report, co-authored with SlowMist and Elliptic, reveals that 87 deepfake scam rings were dismantled across Asia in the first quarter of 2025, highlighting the increasing threat of AI-based scams in the crypto sphere.
The report also showed a 24% increase in global crypto scam losses from the previous year, totaling $4.6 billion in 2024. Approximately 40% of major fraud cases involved deepfake technologies, with fraudsters increasingly leveraging sophisticated imitations of public figures and platform executives to trick users.
Bitget CEO, Gracy, spoke to Cointelegraph: “The ability of scammers to quickly generate synthetic videos, combined with the viral power of social media, gives deepfakes a unique edge in terms of scope and credibility.”
Combatting AI-driven scams requires more than technology. It demands a paradigm shift in attitudes, particularly in an era where synthetic media such as deepfakes can convincingly replicate real individuals and scenarios. Trust must be judiciously gained via transparency, continuous scrutiny, and thorough verification at every step.
The report breaks down contemporary crypto scams into three main categories: AI-produced deepfake impersonations, social engineering tactics, and Ponzi-like frauds masquerading as DeFi or GameFi projects. Deepfakes are particularly nefarious, with AI mimicking text, voice messages, facial expressions, and even behaviors.
For instance, fraudsters have used fake video endorsements from public figures like Singapore’s Prime Minister and Elon Musk to gain public trust. AI can also simulate real-time reactions, making these scams progressively harder to differentiate from reality.
As these AI-enabled scams become more complex, users and platforms must devise new strategies to stay safe. Regular security training and robust technical defenses are key for institutions. Gracy advises users to “verify, isolate, and slow down,” emphasizing the importance of verification through official websites or trusted social media accounts.
