A Bitget report highlights that AI-generated deepfakes accounted for 40% of high-value crypto fraud in 2024, contributing to a $4.6 billion loss from scams, a 24% increase from the previous year. The report emphasizes that the landscape of crypto scams has evolved, leveraging trust and psychology alongside technology. It cited Elon Musk deepfakes used in fraudulent investment schemes and described a Zoom phishing tactic where scammers impersonate notable figures to solicit personal information from victims. The report also identified social engineering scams and Ponzi schemes as significant threats, with the latter adapting to digital formats and using celebrity endorsements to boost credibility. With AI making scams more sophisticated, the report advised that now, avoiding scams involves not only caution but also a deep skepticism about online identities. The era of scams has transformed, requiring new strategies to detect deception that appears increasingly realistic.

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