Reported by Cointelegraph

As scammers become more tech-savvy, they’re now using artificial intelligenceto create highly deceptive schemes. One alarming trend is AI-powered romance scams targeting cryptocurrency users. These scams blend emotional manipulation with cutting-edge AI tools to trick people into handing over their digital assets.

Scammers often use AI chatbots to simulate natural, engaging conversations. These bots maintain consistency, making victims believe they’re speaking with a genuine person. Combined with deepfake technology, scammers create ultra-realistic videos or voice messages mimicking romantic partners, further earning trust.

Crypto fraud and romance scams are meticulously designed to exploit the emotional and financial vulnerabilities of their targets. A shocking example unfolded in October 2024, when Hong Kong police busted a group using deepfakes to impersonate attractive individuals on dating platforms. The scammers built realistic personas to trick victims into investing in fake cryptocurrency schemes, defrauding them of approximately $46 million.

Read full report: https://cointelegraph.com/explained/ai-powered-romance-scams-the-new-frontier-in-crypto-fraud