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Record $17bn in Crypto Losses Driven by Impersonation Fraud

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Cryptocurrency-related fraud losses reached a record high of $17bn in 2025, driven by impersonation tactics and AI tooling. The increase in fraud is attributed to sophisticated Asian crime networks and the growing use of AI in scams. The value of individual scam payments surged by 253% year-on-year, with impersonation fraud growing by 1400% in volume and related payments increasing by over 600%. Law enforcement has made significant strides in combating these frauds, including the conviction of fraud kingpin Zhimin Qian and the seizure of $15bn in proceeds linked to scam activity. The industrialization of fraud is evident in the commercialization of sophisticated tools and the professionalization of distinct actors, including developers, data brokers, spammers, thieves, and administrators. These actors contribute to the growing threat posed by crypto fraud.

Timeline

  1. 14.01.2026 12:00 1 articles · 23h ago

    Record $17bn in Crypto Losses Driven by Impersonation Fraud

    In 2025, cryptocurrency-related fraud losses reached a record high of $17bn, driven by impersonation tactics and AI tooling. The value of individual scam payments surged by 253% year-on-year, with impersonation fraud growing by 1400% in volume and related payments increasing by over 600%. Law enforcement has made significant strides in combating these frauds, including the conviction of fraud kingpin Zhimin Qian and the seizure of $15bn in proceeds linked to scam activity.

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