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10 Kiwis Lose $100k Each to Scams Within Three Months
- In June 2025, Bitget, a leading cryptocurrency exchange, announced its Anti-Scam Research Report created with SlowMist and Elliptic to address crypto scams.
- The report follows a sharp increase in crypto scams in 2024, which caused $4.6 billion in losses, a 24% rise partly driven by AI-enabled fraud techniques.
- Bitget has expanded user protections by launching an Anti-Scam Hub and a $500 million Protection Fund while partnering with security firms to monitor phishing and fake staking scams.
- CEO Gracy Chen emphasized that combating scams demands a combination of advanced technology and joint efforts across the entire ecosystem, noting that AI has enabled fraudsters to execute scams more cheaply and with greater difficulty in detection.
- Bitget's efforts emphasize ongoing security upgrades and user education to combat evolving AI-driven crypto fraud amid calls for stronger industry rules and cooperation.
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Crypto Scam Losses Exceeded $4Billion in 2024, Driven by Deepfake and AI Tech, Says Bitget
Global crypto scam losses surged to $4.6billion in 2024, with deepfake technology and social engineering emerging as the dominant tactics behind high-value thefts, according to crypto exchange and Web3 company Bitget. Launched in partnership with blockchain security firms SlowMist and Elliptic, the 2025 Anti-Scam Research Report from Bitget coincides with the launch of the crypto exchange’s Anti-Scam Month, an initiative dedicated to security ed…
The biggest threat to digital currencies is not volatility, but fraud
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