AI Crypto Scams Get More Convincing as Attacks Evolve
Artificial intelligence is increasingly being used to enhance and automate crypto-related crimes, according to TRM Labs' 'AI-in-Crime Adoption Index.' The index assesses the role of AI in crypto crime but does not provide independent global statistics on crypto fraud. TRM Labs reports that AI amplifies classic social engineering tactics by generating or improving text, translations, images, voices, chat replies, and variations of a lure.
The most advanced category for AI use in criminal contexts is identified as 'fraud.' Three types of AI-enhanced scams gaining traction are fake support, deepfakes, and phishing. Fake support involves attackers claiming to be customer service representatives who demand sensitive information. Deepfakes can create convincing audio or video content that imitates real people.
The German federal cyber security agency BSI notes that generative AI enables automated phishing messages and fake profiles. To protect against these threats, users should adopt habits such as never sharing seed phrases or private keys with anyone claiming to be support, verifying the authenticity of websites and wallets, and being cautious of time pressure tactics.