Deepfake Scams Rise, 87 Rings Dismantled in Q1 2025

The rise of artificial intelligence (AI) has fueled a surge in AI-enabled scams. In the first quarter of 2025, authorities dismantled 87 deepfake-driven scam rings, according to a report by Bitget, SlowMist, and Elliptic, highlighting the growing threat of AI-driven fraud in the crypto space. The report reveals that global crypto scam losses climbed 24% year-over-year to reach $4.6 billion in 2024. Deepfake technology is increasingly being used by scammers for high-value cases, often impersonating public figures and platform executives to deceive users.