Crypto scams proving costly for investors, Lost more than Rs 39,000 Crore Last Year, Bitcoin

Crypto’s segment has increased rapidly over the years. Along with this, the cases of scams related to this segment have also increased. The ways of cheating the investors of scammers are also changing. Scams are also using Artificial Intelligence (AI) to cheat investors. Crypto Exchange Bitget has its anti-scam Report It has been reported that the International Crypto scams have lost about 4.6 billion dollars (about Rs 39,364 crore) last year. This report states that the methods of fraud of scammers are also changing and they are also using deepfec technology with social engineering scams. This report has been prepared with inputs to meet the blockchain security firms Slowmist and Elliptic. Bitget’s CEO, Gracy Chen reported that AI has made the scams faster, cheap and even more difficult to catch. For example, scammers are cheating investors using AI-generated fake stacking offers and fishing bots.

This report gives information about some cases related to Deepfek videos, which promoted fake schemes by posing deepfac videos on the internet of public celebrities like Billionaire Elon Musk and Singapore Prime Minister Lee HSIN LOONG. Chen said, “The biggest threat to the Crypto segment is not volatility, but fraud. We believe that to fight it, along with technology, ecosystem will also need to be strengthened.” The report advises the community associated with Crypto to be vigilant against unknown or suspicious persons and services.

Scammers can also give a minor discount and greed like aircraft to cheat their prey. This report said, “One should be careful with an unknown contact through email, linkedin or telegram. Do not run the code given by the strangers nor install the files. It may include an attempt to detect the device under the guise of job tests or app damos. And transfer the fund to safe wallets. ”
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