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New York Warns of $8 Billion AI-Powered Crypto Investment Scam

Guavy AI Editorial Team
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New York's Division of Consumer Protection has issued an alert warning about AI investment scams that have resulted in over $8 billion in losses for consumers. This represents a 38% increase from 2024, with the median reported loss reaching $10,560.

The scams often begin through social media, dating apps, text messages, emails, online advertisements, or friendly conversations. Scammers may use AI technology to create sophisticated and realistic messaging to steal victims' money.

New York Secretary of State Walter T. Mosley cautioned that if an investment opportunity seems too good to be true, it likely is.

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