AI deepfakes are crypto's biggest threat: Bitget, SlowMist, Elliptic warn
2025-06-10
crypto.news
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A joint report by Bitget, SlowMist, and Elliptic reveals that AI-generated deepfakes and social engineering scams caused $4.6 billion in crypto losses in 2024. Scammers used synthetic videos, fake calls, and impersonations of trusted figures to deceive victims, highlighting AI's growing role in sophisticated financial fraud.[AI generated]
Why's our monitor labelling this an incident or hazard?
The event involves the use of AI systems (deepfake generation) in the execution of social engineering scams that have directly led to financial harm and security breaches for individuals. The AI's role is pivotal in increasing the success rate of these scams by creating convincing fake videos and communications. Therefore, this constitutes an AI Incident due to realized harm caused by AI-enabled fraudulent activities.[AI generated]