A report published on June 10 from Bitget
$3.47B
, SlowMist, and Elliptic revealed that scams in the crypto industry are rising, with deepfake technology playing a major role.
In 2024, total losses from crypto scams reached $4.6 billion, a 24% increase from the previous year. Almost 40% of the most serious cases involved deepfake videos or audio, often used to impersonate well-known figures in crypto.
In the first few months of 2025, 87 scam operations that used deepfake content were shut down across various parts of Asia. These groups relied on AI tools to create fake interviews, announcements, and endorsements that looked convincing.
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The report broke crypto scams into three main categories, deepfake impersonations, social manipulation, and schemes disguised as decentralized finance (DeFi) or GameFi projects. Deepfakes are becoming harder to detect, especially as the software used to create them becomes more advanced and widely available.
The authors stated that stopping these scams requires both awareness and action. For businesses, that means protecting internal systems, training staff regularly, and checking for signs of code or data leaks.
Gracy Chen, CEO of Bitget, gave three key tips for staying safe, which include checking information carefully, keeping high-risk activities separate, and avoiding rushed decisions. She advised users to verify any information they see through official websites or trusted sources, and not to rely solely on messages sent in public chats or replies on social media.
On June 5, Meta’s content review board requested that the company remove a Facebook video that featured a fake version of Ronaldo Nazário to promote a game app. Why? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
