Bitget, the leading cryptocurrency exchange and Web3 company, in conjunction with blockchain security firms SlowMist and Elliptic, has released a highlighting the roles of deepfake technology and social engineering in the growing trend of global crypto scam losses.
Bitget, the leading cryptocurrency exchange and Web3 company, in conjunction with blockchain security firms SlowMist and Elliptic, has released a highlighting the roles of deepfake technology and social engineering in the growing trend of global crypto scam losses.
According to Bitget’s report, crypto scam losses surged to $4.6 billion in 2024, with bad actors deploying the highlighted AI tools in most of the cases. The release of the 2025 Anti-Scam Research Report is closely aligned to Bitget’s “Anti-Scam Month,” a month-long security initiative designed to educate users and raise awareness about these emerging threats across the crypto ecosystem.
The published report marks the beginning of the Bitget Anti-Scam Month program and highlights the new trends in AI-powered scams. The scammers have moved beyond phishing emails, the previously dominant method, to include more sophisticated protocols like fake Zoom calls, synthetic videos of public figures, and Trojan-laced job offers.
It is worth noting that Bitget’s latest report identified three primary methods that modern-day scammers use to steal from their victims. The digital asset thieves deployed deepfake impersonation, social engineering schemes, and Ponzi-style projects cloaked in DeFi or NFT branding. Scammers explored cross-chain bridges and obfuscation tools before using mixers to move stolen funds. They use such methods to complicate the chances of recovering the stolen funds.
Bitget CEO Gracy Chen considers deception the most significant threat to crypto, not volatility. According to Chen, Bitget’s Anti-Scam Month program will elevate industry standards and user awareness. She noted that AI has made scams faster, cheaper, and harder to detect.
However, she assured the public of her firm’s commitment to applying technological rigor and engaging in an ecosystem-wide collaboration that will enable users to trade smarter. Bitget observed the rising use of Telegram and X (Twitter) comment sections as additional phishing entry points besides Zoom calls and synthetic videos.
