4.6 billion USD by crypto fraud in 2024

Artificial intelligence not only revolutionizes productivity, but also fraud. The new anti-scam report from Bitget shows the consequences in connection with crypto applications.

The global crypto bit Bitget published an anti-scam research report together with the security companies Slowmist and Elliptic. The central result: In 2024, $ 4.6 billion was stolen from crypto fraud worldwide-a large part of it using artificial intelligence. Deeppakes, social engineering and automated Trojans make scam operations more efficient, more scalable and more difficult today.

Neue Scam-Dimension durch Deepfakes & Social Engineering

The report describes how the crypto fraud has developed. Instead of simple phishing emails, cybercriminals act with Deepfake videos, fake zoom interviews and even fake projects today NFT– or defi base. Particularly perfidious: social engineering attacks via Telegram or Discord, in which supposed “administrators” tempt users to disclose wallet access.

In addition, stolen funds are increasingly washed via cross-chain-bridges, mixers and complex wallet structures. Slov manure documents in several case studies how professionally many of these groups are now doing – often with an international division of labor.

Growing threat also for retail investors

In response to the results, Bitget calls out the “Anti-Scam Month”. At the same time, the platform announces new measures: a revised anti-scam hub, reinforced early warning systems, as well as an increased protection find of $ 500 million should better protect users.

Private investors are particularly affected by fake AirdropsScam bots or compromised Wallets suffer high losses. Many of the attacks imitate official channels and projects so realistic that even experienced users fall into the trap. According to the report, a large part of the losses on individuals in Asia, Europe and Latin America-regions with a high crypto growth are eliminated.

In this context, the report also calls on other market participants to jointly establish industry standards for scam detection and user education. Only through coordinated measures between stock exchanges, wallet providers and blockchain analysis companies can the security level in the entire Web3 ecosystem be increased sustainably.