Crypto crooks are getting bolder — and now, they sound just like your mom.
Global crypto scams soared 456% between May 2024 and April 2025 — becoming increasingly reliant on AI-generated voices, deepfake videos and phony credentials to fleece unsuspecting victims, blockchain intelligence firm TRM Labs‘ Ari Redbord told The Post after testifying before Congress last Tuesday.
“These scams are highly effective, as the technology feels incredibly real and familiar to the victim,” Redbord said.
“We’ve seen cases where scammers use AI to replicate the voice of a loved one, tricking the victim into transferring money under the guise of an urgent request.”
And the threat is exploding — especially in high-density cities like New York, Miami and Los Angeles, he added.
In June, New York officials froze $300,000 in stolen cryptocurrency and seized more than 100 scam websites linked to a Vietnam-based ring that targeted Russian-speaking Brooklynites with fake Facebook investment ads.
Meta shut down over 700 Facebook accounts tied to the scam.
Investigators say the group used deepfake BitLicense certificates and moved victims onto encrypted apps like Telegram before draining their wallets.
Some New Yorkers lost hundreds of thousands of dollars — and it’s not just everyday joes getting targeted.
Even crypto insiders are falling for it. Florida-based crypto firm MoonPay saw its CEO Ivan Soto-Wright and CFO Mouna Ammari Siala duped into wiring $250,000 in crypto to a scammer posing as Trump inauguration co-chair Steve Witkoff, according to a recent Department of Justice complaint.
And that’s just the tip of the iceberg.
Globally, fraudsters swiped more than $10.7 billion in 2024 through crypto cons — including romance scams, fake trading platforms and “pig-butchering,” where scammers build fake relationships before draining victims’ accounts, Redbord said.
In the US, Americans filed nearly 150,000 crypto-related fraud complaints in 2024, with losses topping $3.9 billion, according to the FBI. But the real number is likely much higher.
“Only around 15% of victims actually report these crimes,” Redbord said, citing shame, fear and distrust in law enforcement — particularly among older adults and immigrant communities.
One of these scammers go-to tools? Crypto ATMs — especially those tucked inside New York delis and convenience stores.
Illicit use at these kiosks is more than twice as high as in the broader crypto market, Redbord said. Victims are often directed to scan a QR code and deposit cash, instantly converting it to crypto before the funds disappear.
As the scams rage on, Washington is starting to bring order to the Wild West of crypto.
House lawmakers wrapped up “Crypto Week” last Thursday by passing the first-ever comprehensive cryptocurrency legislation — a trio of bills focused on regulating stablecoins, trading platforms and digital asset infrastructure.
Even so, Redbord advised, common sense is the best defense.
“If something feels too good to be true — especially unsolicited investment advice — it almost always is,” he said.
“Verify the platform. Confirm identities. And when in doubt, report it — whether to IC3, Chainabuse or your local authorities.”
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