#CryptoScamSurge

The activity of cryptocurrency fraud has seen a sharp rise, with total fraud losses in 2024 estimated at around $4.6 billion, an increase of nearly 24% from 2023 - deepfakes and AI-driven phishing schemes dominate this increase. 'Fraud' schemes alone have cost investors more than $5.5 billion through prolonged emotional or investment deception (Cointelegraph). Experts warn that 2025 may be the worst year yet for cryptocurrency fraud, as generative AI enables scalable impersonation and social engineering hacks disguised as job offers or fake reward distributions. As the professionalism of fraud networks increases, victims are losing increasingly large amounts before suspecting fraud. Vigilance, verification, and tightening regulatory measures are key factors in stopping this phenomenon.