Bitget Releases Anti-Scam Report Highlighting $4.6B In Crypto Losses In 2024 Due To AI-Related Scams
In Brief
Bitget together with SlowMist and Elliptic, released its 2025 Anti-Scam Report revealing that global crypto scam losses reached $4.6 billion in 2024, driven by AI-enabled deepfake and social engineering scams, outlined emerging phishing platforms and evolving fraud tactics.
Cryptocurrency exchange Bitget issued its 2025 Anti-Scam Research Report in collaboration with blockchain security firms SlowMist and Elliptic. According to the findings, total global losses to cryptocurrency scams reached $4.6 billion in 2024. The report attributes a significant portion of this activity to the growing use of deepfake technology and social engineering, which are now central to the execution of high-value fraud. This publication coincides with the commencement of Bitget’s Anti-Scam Month, an initiative aimed at promoting security awareness and education throughout the digital asset ecosystem.
The report indicates that scams powered by AI have evolved beyond conventional phishing tactics to include fraudulent video calls, manipulated visuals of well-known individuals, and deceptive employment offers embedded with malicious software.
It identifies three major types of scams as the most prevalent sources of user losses: deepfake-based impersonation, schemes leveraging social engineering, and deceptive Ponzi operations disguised as decentralized finance or NFT-related projects.
Additionally, the report explains how stolen digital assets are typically moved through cross-chain bridges and anonymity-enhancing technologies before being laundered through mixers or trading platforms, which presents challenges for both tracking and asset recovery.
Bitget’s Report Highlights Telegram And X As Emerging Phishing Vectors And Outlines Industry-Wide Security Measures
Further analysis in the report features detailed case studies from large-scale fraud events in Hong Kong, and it notes the increasing use of platforms such as Telegram and X as vectors for phishing attempts via comment threads. It also highlights the expansion of organized fraud networks that operate across jurisdictions, reflecting the professionalization and international scope of many contemporary scam operations.
“The biggest threat to crypto today isn’t volatility—it’s deception. That’s why Bitget has designated the entire month of June as Anti-Scam Month—an initiative to elevate industry standards and user awareness,” said Gracy Chen, CEO at Bitget, in a written statement. “This report is the flagship release within that effort. AI has made scams faster, cheaper, and harder to detect. At Bitget, we believe fighting back requires both technological rigor and ecosystem-wide collaboration. Our goal is to help users trade smarter, not just faster,” she added.
The publication also outlines how Bitget‘s Anti-Scam Hub, its proprietary risk detection technologies, and a Protection Fund valued at over $500 million are being utilized to help reduce exposure to fraudulent activity. Contributions from blockchain security firm SlowMist include forensic analysis of various deception methods, such as address poisoning attacks and malware hidden within fraudulent job postings. Elliptic’s involvement centers on tracking the movement of illicitly obtained digital assets, particularly their transfer through cross-chain infrastructure and anonymizing tools such as cryptocurrency mixers.
“Criminals are constantly evolving their methods of attack, using AI and finding new ways to scale their activities. This means that reciprocally, we are also working to scale our technology and blockchain capabilities to track and identify the new methods criminals are using,” said Arda Akartuna, Lead Crypto Threat Researcher for APAC at Elliptic, in a written statement. “Our work with Bitget reflects a shared urgency to expose these evolving threats and give users the tools to protect themselves,” he added.
“This report reflects the real-world patterns we’re seeing on-chain every day,” said Lisa, Security Operations Lead at SlowMist, in a written statement. “From phishing rings to fake staking dApps, the tactics may change—but the psychology is always the same. Users must be informed, skeptical, and security-minded at all times,” she added.
The final section of the report highlights a series of practical recommendations intended for individual users as well as institutional stakeholders. These include indicators commonly associated with fraudulent activity and suggested preventive measures aimed at reducing exposure to scams across decentralized finance (DeFi), non-fungible token (NFT), and broader Web3 ecosystems. The guidance is structured to support informed decision-making and enhance resilience against evolving digital threats.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
