Bitget Launches Second Annual Anti-Scam Drive as Crypto Fraud Losses Hit $9.9B, Up 24% Since 2020

Leading cryptocurrency exchange Bitget has launched its second annual Anti-Scam Drive to combat the growing threat of AI-powered crypto fraud. The initiative aims to raise global awareness about the escalating threat of crypto scams, which have resulted in losses exceeding $9.9 billion in 2024, marking a 24% annual increase since 2020.

Under the theme “Smarter Eyes, Stronger Shields,” Bitget’s campaign features an interactive Anti-Scam Hub microsite, gamified educational content, and the “Smarter Eyes Challenge” mini game. The campaign also includes a multi-part Security Blog Series and a social media movement called “PFP Smarter Glasses” to foster vigilance within the crypto community.

Bitget is collaborating with a network of renowned cybersecurity experts such as GoPlus, SlowMist, OneKey, BlockSec, and Security Alliance to amplify its message and develop stronger protective measures. Strategic partnerships with Web3 platforms like Bitget Wallet, Morph, and Tapswap further strengthen the campaign, ensuring that security education and protective tools reach across wallets, decentralized apps, and social platforms.

“Scams may adapt, but so will we,” said Gracy Chen, CEO of Bitget. “Anti-Scam Month aligns with our belief that protecting users isn’t just a technical mandate. It’s a shared mission.”

Bitget plans to publish its 2025 Anti-Scam Report in collaboration with SlowMist and Elliptic. The report will provide data-driven insights into emerging fraud tactics and how the company’s systems are evolving to counter them. Since launching the first Anti-Scam Month in 2024, Bitget has been dedicated to cultivating a culture of security awareness across the crypto ecosystem.

The exchange has introduced a new AI-driven fraud detection system that monitors user activities and flags suspicious transactions in real-time. This system helps to quickly identify and block fraudulent activities, protecting users from financial losses. Bitget’s efforts are part of a broader industry-wide push to combat crypto fraud, collaborating with other leading crypto platforms and cybersecurity firms to share best practices and develop new tools to tackle emerging threats.

The initiative has received positive feedback from users and partners, who appreciate the proactive approach to addressing the growing problem of crypto fraud. Bitget’s commitment to user safety and education is seen as a significant step in building trust and ensuring the long-term sustainability of the crypto ecosystem.

By focusing on education and advanced technology, Bitget aims to create a safer environment for all crypto users, reducing the risk of falling victim to sophisticated scams. The exchange encourages users to stay vigilant and report any suspicious activities to help protect the entire community.