Odaily Planet Daily reports: New York state officials have warned that AI-generated content and fraudulent crypto projects are making investment scams more deceptive. In 2025, losses from investment scams exceeded $8 billion, a 38% increase from 2024, with 144,041 consumers reporting losses and a median loss of $10,560 per incident.
AI can be used to clone voices, forge videos, impersonate financial professionals, and create social media advertisements. New York State Attorney General Letitia James has warned that scammers attract investors through deepfakes of celebrities endorsing fake cryptocurrencies, pump-and-dump schemes, and fraudulent trading platforms.
Some fraudulent platforms display fake account balances, earnings, and transaction records, and allow victims to make small withdrawals to build trust, then demand additional funds or fees. New York State officials advise consumers to verify the identities of promoters, companies, and investment projects, and confirm where their funds are going.
According to data from the U.S. Federal Bureau of Investigation (FBI), reported losses from cybercrime in 2025 amounted to $20.877 billion, with $11.37 billion in losses involving cryptocurrencies. Common signs of scams include promises of high returns, unsolicited investment offers, high-pressure sales tactics, and projects lacking clear documentation. (Bitcoin.com News)