AI-Enabled Impersonation Scams Drove Record $17B In Crypto Losses In 2025, Chainalysis Says

Core Insights - A record $17 billion was lost to cryptocurrency scams in 2025, up from $14 billion in 2024, driven by an increase in impersonation scams and the use of AI tools by scammers [1][2]. Group 1: Impersonation Scams - Impersonation scams surged by 1,400% in 2025, with the average loot from these schemes increasing by 600% [2]. - Examples of such scams include the E-ZPass scam linked to Chinese-speaking criminal organizations and Coinbase customer service impersonation scams [3]. Group 2: Role of AI in Scams - AI is enhancing the effectiveness of impersonation scams, allowing scammers to reach and manage more victims simultaneously [4]. - AI-powered schemes reportedly generated four and a half times more revenue and exhibited nine times more transaction activity compared to traditional methods [4]. Group 3: Industrialization of Fraud - The concept of "Crime-as-a-Service" has emerged, with specialized groups providing software and tools for scammers, lowering the barrier to entry for cryptocurrency fraud [5]. - Scammers using phishing kits from these criminal groups are 688 times more successful in dollar terms [6].