Scammers impersonating trusted people or companies stole far more crypto in 2025, according to new data from Chainalysis.
The firm’s 2026 Crypto Scams Report shows that these impersonation scams grew by about 1,400% compared to 2024.
These scams work by tricking users into sharing their crypto, passwords, or account access. The scammer often poses as someone reliable, a friend, a company representative, or a support agent, to gain the victim’s trust.
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Chainalysis noted that such scams are becoming more complex. Fraudsters now mix several techniques, such as social manipulation and fake investment offers, to make their traps harder to detect.
The report stated:
For example, many pig butchering and investment scams incorporate elements of impersonation, social engineering, and even technical- or wallet-focused scams.
The average amount lost in each case also increased by more than 600%, which Chainalysis called a “concerning trend”.
The report points to artificial intelligence (AI) as a major reason behind this rise. Scammers use AI tools to create convincing messages, profiles, and interactions.
Chainalysis described this as part of the “industrialization of fraud”, where technology helps scammers reach more people faster.
According to the firm, AI-based scams were about 4.5 times more profitable than traditional ones. These operations generated higher daily income and handled more transactions.
On January 4, Haseeb Qureshi reported an increase in physical attacks on people who hold cryptocurrencies. What did he say? Read the full story.
