A surge in cryptocurrency scams is being fuelled by AI-driven techniques, including voice cloning and deepfake IDs, combined with the anonymity of crypto ATMs. Blockchain intelligence experts warn that these scams are affecting everyone from Brooklyn retirees to crypto executives. Scammers are using AI to mimic voices, create fake videos, and impersonate trusted individuals to deceive victims.
These sophisticated methods are used to extract money or information, often by creating a sense of urgency or impersonating family members in distress. The rise in scams has prompted law enforcement to freeze assets and pursue scam rings, while platforms are removing fake accounts. Experts are calling for new verification methods to combat AI-driven fraud, as traditional security measures like voiceprint authentication become obsolete.
Victims often hesitate to report these crimes due to embarrassment or uncertainty, making it difficult to stop these scams. The combination of accessible AI technology and the increasing use of cryptocurrencies creates a fertile ground for fraud, demanding increased vigilance and the development of robust security measures.
