Crypto Fraud Claims $4.6 Billion in 2024: Deepfakes Fueling Major Losses

A staggering $4.6 billion was lost to cryptocurrency fraud in 2024, according to a new report from Bitget and its partners, highlighting the significant impact of AI-generated deepfakes. The report reveals that these scams are specifically targeting major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with synthetic impersonations of prominent figures employed by scammers to exploit victims.