AI-Powered Scams Threaten Indian Crypto Investors as ITR Season Approaches

A China-based app studio used artificial intelligence (AI) to orchestrate a large-scale romantic scam network, targeting over 25,000 people through Claude-powered personas. The operation, tracked as GTG-15001, engaged with victims across more than 20 dating apps and generated approximately 2.36 million messages in just two weeks.

The use of AI made the scams more convincing by allowing fraudsters to personalize interactions, maintain continuous conversations, and remove obvious warning signs. According to Anthropic's September 2026 threat intelligence report, this capability can also be transferred directly to crypto and financial frauds, making it harder for victims to identify fake messages from genuine communications.

Indian crypto investors are particularly vulnerable during the Income Tax Return (ITR) filing and refund season. Scammers can use AI-generated messages that mimic tax authorities or exchanges, making it difficult for investors to distinguish between real and fake notifications. The Income Tax Department has warned taxpayers about fraudulent emails, SMS, and websites claiming that refunds are approved, delayed, or require verification.

To protect themselves, Indian crypto investors should be cautious of unsolicited messages or notifications that invoke a sense of urgency, seek sensitive data, or issue unexpected financial claims. They should never click links or reply with personal or financial details and instead verify tax-related messages through the official Income Tax Department website or by checking their exchange's statements and tax software directly.