AI-Fueled Deception Hits New High in Crypto Markets
Crypto scams cost users a staggering $4.6 billion in 2024, and artificial intelligence is now at the heart of the deception. That’s the key finding from Bitget’s 2025 Anti-Scam Research Report, released today in collaboration with blockchain security leaders SlowMist and Elliptic. According to the report, fraudsters are using AI not only to mimic public figures with deepfakes but also to launch increasingly sophisticated phishing and impersonation schemes across the Web3 ecosystem.
The publication coincides with the official launch of Bitget’s Anti-Scam Month, a global education initiative aimed at helping users recognize and avoid fraud. Bitget, a leading crypto exchange and Web3 firm, warns that the crypto industry’s greatest risk isn’t price volatility, but deception.
“The biggest threat to crypto today isn’t volatility—it’s deception,” said Gracy Chen, CEO of Bitget. “AI has made scams faster, cheaper, and harder to detect. At Bitget, we believe fighting back requires both technological rigor and ecosystem-wide collaboration.”
Deepfakes, Trojan Jobs, and Social Engineering Dominate
While phishing emails remain common, the landscape has evolved dramatically. The Bitget report highlights three dominant types of scams now driving losses: deepfake impersonations, social engineering ploys, and Ponzi-style DeFi and NFT projects. One notable trend is the use of fake Zoom calls and synthetic videos featuring public figures to gain trust before stealing funds.
Scammers are also targeting crypto users through job offer Trojans, where seemingly legitimate hiring efforts conceal malicious code. In other cases, fraudsters are posing as DeFi projects or NFT communities, luring users with promises of staking rewards or exclusive access before disappearing with investor assets.
The scams don’t stop at theft. Once funds are stolen, criminals are leveraging cross-chain bridges and obfuscation tools to complicate investigations and launder money. Tokens are funneled through decentralized protocols, mixers, and sometimes even back into legitimate exchanges, making recovery extremely difficult.
Telegram and X Are Emerging Scam Hotbeds
The report also pinpoints specific social platforms that have become central to phishing attempts. Telegram and X (formerly Twitter) comment sections are now major gateways for scam links and fake support accounts. These platforms are exploited for their real-time user engagement and lack of rigorous verification, making them ideal for impersonation tactics.
Additionally, the study includes case studies from scam incidents in Hong Kong, highlighting how globally coordinated fraud rings are operating across jurisdictions and exploiting regulatory blind spots.
“Criminals are constantly evolving their methods of attack, using AI and finding new ways to scale their activities,” said Arda Akartuna, Lead Crypto Threat Researcher at Elliptic. “Our work with Bitget reflects a shared urgency to expose these evolving threats and give users the tools to protect themselves.”
Bitget’s $500M Safety Net and Anti-Scam Systems
To fight back, Bitget is arming its community with both technology and education. The report outlines key safety measures the exchange has rolled out, including the Anti-Scam Hub, advanced scam detection algorithms, and a Protection Fund exceeding $500 million. These systems are designed to identify suspicious activity in real time and help mitigate user losses.
Security partner SlowMist contributed forensic insights to the report, identifying tactics like address poisoning and Trojanized job offers, while Elliptic mapped the laundering paths of stolen funds. Together, their research forms the backbone of Bitget’s latest anti-scam push.
“From phishing rings to fake staking dApps, the tactics may change—but the psychology is always the same,” said Lisa, Security Operations Lead at SlowMist. “Users must be informed, skeptical, and security-minded at all times.”
Users Must Stay Skeptical in a Rapidly Evolving Space
The final section of the report provides actionable guidance for individuals and institutions alike. Users are urged to treat unsolicited offers with caution, verify official links before interacting, and be alert to red flags like unrealistic returns or requests for private keys.
The report stresses that even the most sophisticated technologies are only effective when paired with user vigilance. Bitget’s Anti-Scam Month is built around the belief that an informed community is the first and most essential line of defense.
Building Trust in a High-Risk Digital Future
Founded in 2018, Bitget now serves over 120 million users in more than 150 countries, offering a range of services from copy trading to its Bitget Wallet, which supports over 130 blockchains. Through global partnerships including with LALIGA and Turkish national athletes; Bitget has positioned itself not just as a trading platform, but as a force for education and adoption in the crypto space.
The release of the 2025 Anti-Scam Report and the launch of Anti-Scam Month send a clear message: as the crypto world expands, so too must its defenses. Bitget’s effort to expose fraud tactics, enhance protections, and educate the public marks a major step in that ongoing battle.
For those navigating the fast-moving world of digital assets, trust, education, and vigilance remain the strongest currencies of all.
