According to a recent report by Chainalysis, scammers stole approximately $9.9 billion from the digital currency ecosystem last year, the lowest amount since 2021. This figure is likely to increase to $12.4 billion this year. AI generators have reduced barriers for scammers, enabling them to create fake identities and investment schemes. 85% of scams involve fully verified accounts. Investment scams with high returns have attracted the most illegal flows of digital currencies. The Huione Guarantee platform has emerged as a key facilitator of AI-based scams. Nigerian authorities arrested 88 individuals on charges of carrying out digital currency investment scams. Scammers have diversified their methods and shifted towards quick job scams. Authorities are working to curb this growing epidemic of scams.
