Bitget Reports $4.6 Billion Lost to AI-Powered Crypto Scams in 2024

Bitget, a leading cryptocurrency exchange and Web3 company, has released a comprehensive report in collaboration with blockchain security firms SlowMist and Elliptic. The report, titled the 2025 Anti-Scam Research Report, sheds light on the escalating trend of AI-powered scams within the cryptocurrency ecosystem. According to the findings, these scams resulted in a staggering $4.6 billion in losses for crypto users in 2024. The report underscores the pivotal roles of deepfake technology and social engineering in facilitating these fraudulent activities.

The report marks the commencement of Bitget’s “Anti-Scam Month,” a month-long initiative aimed at enhancing user awareness and education about the evolving threats within the crypto space. This campaign is part of Bitget’s broader commitment to security, as emphasized by CEO Gracy Chen. Chen highlighted that the primary focus of the initiative is to address the growing sophistication of scams, which now include methods such as fake Zoom calls, synthetic videos of public figures, and Trojan-laced job offers. These tactics represent a significant shift from the previously dominant method of phishing emails.

The report identifies three primary methods employed by modern-day scammers to defraud their victims. These include deepfake impersonation, social engineering schemes, and Ponzi-style projects disguised as DeFi or NFT ventures. Scammers utilize cross-chain bridges and obfuscation tools to move stolen funds, complicating the recovery process. The use of mixers further obscures the trail of the stolen assets, making it challenging for authorities to track and retrieve the funds.

Gracy Chen, CEO of Bitget, emphasized that deception poses a more significant threat to the crypto industry than volatility. She noted that AI has made scams faster, cheaper, and harder to detect, necessitating a robust response from the industry. Chen assured the public of Bitget’s dedication to applying technological rigor and fostering ecosystem-wide collaboration to enable users to trade more securely. The report also observed an increase in the use of Telegram and X (Twitter) comment sections as additional phishing entry points, alongside Zoom calls and synthetic videos.

Bitget’s Anti-Scam Month program is designed to elevate industry standards and user awareness, ensuring that the crypto community is better equipped to navigate the complexities of modern scams. By highlighting the latest trends and tactics employed by scammers, Bitget aims to empower users with the knowledge and tools necessary to protect themselves from these emerging threats. The initiative underscores the importance of continuous education and vigilance in maintaining the security and integrity of the cryptocurrency ecosystem.