New Bitget report exposes DeepFake and Zoom crypto scams

In an era where technology is advancing at an unprecedented pace, the cryptocurrency industry is grappling with a surge in sophisticated scams.

A recent report by Bitget, a leading cryptocurrency exchange and Web3 company, has shed light on the alarming rise of AI-powered deepfake and Zoom-related crypto frauds.

The report details how cybercriminals are leveraging cutting-edge tools and social engineering tactics to deceive users, resulting in billions of dollars in losses.

As the crypto market continues to grow, understanding these threats is crucial for investors and regulators alike.

The growing threat of crypto fraud

Crypto fraud has been a persistent issue since the inception of digital currencies.

The anonymity and decentralized nature of cryptocurrencies make them an attractive target for scammers.

Over the years, fraudsters have evolved from basic phishing emails to complex schemes involving ransomware, Ponzi schemes, and impersonation scams.

According to Bitget’s 2025 Anti-Scam Research Report, global crypto scam losses reached a staggering $4.6 billion in 2024.

This surge is largely attributed to the integration of artificial intelligence (AI) technologies, which have enabled scammers to create hyper-realistic deepfakes and orchestrate elaborate social engineering attacks.

The report highlights how AI is reshaping the landscape of cybercrime.

Deepfake technology, which uses AI to manipulate audio and video content, allows fraudsters to impersonate public figures, executives, and even trusted contacts with chilling accuracy.

Meanwhile, platforms like Zoom, widely used for virtual meetings, have become a breeding ground for scams where criminals pose as legitimate business leaders to trick victims into transferring funds or disclosing sensitive information.

Deepfake scams: a new frontier in cybercrime

One of the most disturbing revelations from the Bitget report is the proliferation of deepfake scams.

These scams involve the creation of fabricated videos or audio clips that mimic real individuals, often used to gain trust and manipulate victims.

For instance, fraudsters have been known to impersonate CEOs or financial advisors in video calls, convincing employees or investors to wire large sums of money to fraudulent accounts.

The report cites instances where deepfake technology was used to replicate the voice and appearance of high-profile figures, leading to significant financial losses.

In the first quarter of 2025 alone, authorities across Asia dismantled 87 deepfake scam rings, underscoring the scale of the problem.

As AI tools become more accessible, the potential for such scams to proliferate is alarming.

This projection aligns with earlier findings from Bitget’s 2024 Deepfake Report, which emphasized the urgent need for user education and advanced security protocols to combat these threats.

Zoom scams: exploiting trust in virtual spaces

Another critical focus of the Bitget report is the rise of Zoom-based scams, where fraudsters exploit the trust associated with virtual meeting platforms.

These scams often rely on meticulous social engineering, where attackers gather personal information about their targets through social media or data breaches.

Armed with this information, they craft convincing narratives to pressure victims into making hasty decisions.

The Bitget report notes that such scams are particularly effective in corporate environments, where employees may feel obligated to comply with urgent requests from supposed superiors.

This exploitation of trust and authority makes Zoom scams a potent threat in the crypto space, where large transactions are often conducted digitally.

Implications for the crypto industry

The implications of these findings are far-reaching for both individual investors and the broader cryptocurrency industry.

The $4.6 billion in losses reported for 2024 represents not just financial damage but also a significant erosion of trust in digital assets.

As scams become more sophisticated, new investors may hesitate to enter the market, stunting the growth of an industry that thrives on accessibility and innovation.

Furthermore, the use of AI in fraud raises ethical questions about the development and regulation of such technologies.

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