Cryptocurrency scams have become increasingly sophisticated, thanks in part to the use of AI-powered tools. These scams can take many forms, including fake giveaways, phishing emails, and pig butchering operations.
Pig butchering scams involve building trust over weeks or months before introducing a fake investment platform. Scammers often use unsolicited contact and pressure to use a specific trading platform. They may also show artificial 'profits' to encourage further deposits.
Another type of scam is the AI deepfake, which involves using AI-generated content to impersonate trusted figures. This can include fabricated video announcements from well-known figures promoting fraudulent investment schemes.