Artificial intelligence is driving a sharp rise in crypto fraud, with scammers using advanced tools to target victims, according to a report by CBS News. Investigators say criminals are using AI to craft personalised messages and exploit data from leaks and prior scams.
The report highlighted the case of a 73-year-old woman who lost nearly $300,000 after being lured into a fake crypto investment scheme via WhatsApp. According to the Federal Bureau of Investigation, Americans lost an estimated $20 billion to cyber fraud in 2025, with more than half involving cryptocurrency.
"There's nothing left": Scammers manipulated a woman and stole her entire life savings. Experts say AI-driven fraud schemes are on the rise. https://t.co/75vdoozr3a
— CBS News (@CBSNews) April 23, 2026
Officials from the IRS Criminal Investigation unit said stolen funds are often routed through multiple digital wallets before being converted to cash, making tracking difficult. They warned that AI tools are making scams more convincing and harder to detect.
Authorities urged the public to verify communications and report suspicious activity quickly to improve recovery chances.
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TIPP Staff
