Crypto P2P Scams on the Rise: $3.2M Average per Operation

Crypto peer-to-peer scams are on the rise, exploiting the lack of an intermediary between traders. According to Chainalysis's 2026 Crypto Crime Report, impersonation-based fraud grew by 1,400% year-over-year, with AI-assisted scam operations extracting an average of $3.2 million per operation.

The most common types of crypto P2P scams include proof of payment scams, chargeback scams, man-in-the-middle scams, triangle scams, and impersonation and recovery scams.

Proof of payment scams involve the use of fake bank transfers or spoofed text messages to pressure sellers into releasing funds before verifying the transaction. Chargeback scams occur when a fraudster pays through a check or card that can be reversed after receiving the crypto.

To avoid these scams, it is essential to verify transactions directly and not rely on screenshots or messages from others. Additionally, never initiate conversations about active trades outside of the platform's official chat, as this can be a tactic used by scammers to manipulate sellers into releasing funds prematurely.