{"id":77427,"date":"2026-08-29T05:43:46","date_gmt":"2026-08-29T05:43:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/new-york-warns-of-fake-crypto-and-ai-as-scam-losses-hit-8-billion\/"},"modified":"2026-08-29T05:43:46","modified_gmt":"2026-08-29T05:43:46","slug":"new-york-warns-of-fake-crypto-and-ai-as-scam-losses-hit-8-billion","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/new-york-warns-of-fake-crypto-and-ai-as-scam-losses-hit-8-billion\/","title":{"rendered":"New York Warns of Fake Crypto and AI as Scam Losses Hit $8 Billion"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Investment scam losses surpassed $8 billion in 2025.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">AI helps fraudsters create convincing voices, videos, and ads.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Fake crypto projects impersonate established businesses to lure investors.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Investment Scam Losses Rise 38%<\/h2>\n<p>Investment scams became the costliest fraud category tracked by the Federal Trade Commission in 2025, according to New York officials. The state\u2019s Division of Consumer Protection issued an <a href=\"https:\/\/dos.ny.gov\/news\/consumer-alert-nys-department-states-division-consumer-protection-warns-against-investment-scams\" target=\"_blank\" rel=\"noopener noreferrer\">AI investment scam warning<\/a> on Aug. 26 after 144,041 consumers reported losing more than $8 billion, a 38% increase from 2024. The median reported loss reached $10,560.<\/p>\n<p>The schemes can begin through social media, dating apps, text messages, emails, online advertisements, or apparently friendly conversations. The FTC\u2019s own April consumer alert <a href=\"https:\/\/consumer.ftc.gov\/consumer-alerts\/2026\/04\/people-losing-big-investment-scams-learn-how-spot-and-avoid-them\" target=\"_blank\" rel=\"noopener noreferrer\">put the same 2025 total at more than $7.9 billion<\/a>, with a median individual loss above $10,000. That agency listed cryptocurrency alongside stocks and forex among the investments scammers pitch through fake coaching offers.<\/p>\n<p>Secretary of State Walter T. Mosley cautioned:<\/p>\n<blockquote>\n<p>\u201cNew Yorkers need to be vigilant against scammers, who may be able to create increasingly sophisticated and realistic messaging using AI technology or other means to steal your hard-earned money. If it seems too good to be true, it probably is.\u201d<\/p>\n<\/blockquote>\n<figure id=\"attachment_843051\" aria-describedby=\"caption-attachment-843051\" style=\"width:1280px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-843051\" class=\"wp-caption-text\">Reported investment scam losses exceeded $8 billion in 2025, up 38% from 2024, while the median reported loss reached $10,560. Chart generated by Bitcoin.com News using New York Department of State figures citing Federal Trade Commission data.<\/figcaption><\/figure>\n<h2>AI Deepfakes Promote Fake Crypto Investments<\/h2>\n<p>Artificial intelligence allows fraudsters to clone voices, fabricate videos, impersonate financial figures, and produce polished social media advertisements. An <a href=\"https:\/\/ag.ny.gov\/press-release\/2026\/investor-alert-attorney-general-james-warns-new-yorkers-investment-scams-meta\" target=\"_blank\" rel=\"noopener noreferrer\">April warning from New York Attorney General Letitia James<\/a> described schemes involving deepfake celebrity endorsements, fraudulent cryptocurrencies, pump-and-dump operations, and fake trading platforms promoted across Facebook, Instagram, and Whatsapp.<\/p>\n<p>Victims may encounter professional-looking applications that display fabricated balances, returns, and trading activity. Some operators permit small initial withdrawals to establish credibility before pressing targets to deposit larger amounts. Similar tactics have appeared internationally, with Australian regulators recently dismantling <a href=\"https:\/\/news.bitcoin.com\/regulation-and-legal\/asic-pulls-3106-crypto-scams-as-ai-networks-target-aussie-savings\/\">3,106 fraudulent cryptocurrency investment platforms<\/a> during the 2026 financial year as AI-generated endorsements became increasingly difficult to distinguish from authentic promotions.<\/p>\n<h2>Fake Platforms Build Trust Before Demanding Fees<\/h2>\n<p>A separate Australian case showed how organized groups build an entire fake internet around a crypto investment that does not exist. Investigators detailed <a href=\"https:\/\/news.bitcoin.com\/australian-police-detail-ai-scam-tactics-after-woman-lost-over-74000-to-fake-crypto-investment\/\">counterfeit trading platforms, fabricated news articles, and chatbots posing as support staff<\/a>, deployed before a woman lost nearly $74,690. Operators may then ask for additional fees before releasing funds, which New York\u2019s alert tells consumers never to pay.<\/p>\n<p>New York officials advised consumers to confirm the identity of any promoter, verify the company and investment, and establish where their money will go before transferring funds. Common <a href=\"https:\/\/www.bitcoin.com\/get-started\/wallet-security\/privacy-protection\/how-to-avoid-common-bitcoin-scams\/\" target=\"_blank\" rel=\"noopener noreferrer\">crypto scam warning signs<\/a> include guaranteed high returns, unsolicited investment offers, high-pressure sales tactics, and projects lacking clear documentation. Anyone who suspects fraud should stop sending money immediately and report it to the FTC, the FBI\u2019s Internet Crime Complaint Center, the SEC, or the New York Attorney General.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/featured\/new-york-warns-of-fake-crypto-and-ai-as-scam-losses-hit-8-billion\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Investment scam losses surpassed $8 billion in 2025. AI helps fraudsters create convincing voices, videos, and ads. Fake crypto projects impersonate established businesses to lure investors. Investment Scam Losses Rise 38% Investment scams became the costliest fraud category tracked by the Federal Trade Commission in 2025, [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":77428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77427"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=77427"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/77428"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=77427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=77427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=77427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}