A new CNBC report shows that crypto scams grew in 2024 as pig butchering scams and the use of artificial intelligence helped scammers trick more people.
Crypto scams reached a high level in 2024, according to a recent CNBC report. The report explains that pig butchering scams, where fraudsters slowly build trust with their targets before taking large amounts of money, and the growing use of artificial intelligence have helped these scams grow.
Scammers now use artificial intelligence to create more convincing messages and fake profiles. This makes it easier for them to trick people into investing in fake schemes. One expert said,
“The scams are getting more advanced as fraudsters use new technology.”
The report shows that the improvements in artificial intelligence have allowed scammers to change their methods, which increases both the number of victims and the money lost.
In pig butchering scams, fraudsters build relationships with their targets over weeks or even months before taking a lot of money from them. This method, along with messages created by artificial intelligence, has made it easier for crypto scams to spread. Many victims end up losing a lot of money after trusting what they believe are real investment chances.
The CNBC report is a clear reminder for investors to be careful when they get offers or promises of high returns in the crypto market. With scammers always changing their tricks, experts say it is very important to do careful research and to be skeptical of offers that seem too good to be true.
For more details on these trends and the changing world of crypto scams, please see the original report on CNBC.
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