Bethany Alvaro 
A new report by Chainalysis has estimated that a whopping US$17 billion (approximately AU$25 billion) was lost to crypto scams last year, with much of this being attributed to the increased impersonation scams, which grew year over year (YoY) by 1,400 per cent.
Payment values in impersonation crypto scams also saw a major increase, growing by 600 per cent.
Like many other trends and reports emerging in cyber crime, AI-enabled and -supported scams are continuing to increase in prevalence. Additionally, they are reportedly more profitable for criminals, generating 4.5 times more revenue in each scam.
Will Lyne, head of economic and cyber crime at the UK Metropolitan Police, commented on these figures and trends, saying from a professional perspective: “Fraud linked to cryptocurrency continues to grow in scale and sophistication, with organised crime groups increasingly using impersonation tactics, online infrastructure, and AI-enabled tools to target victims at pace and scale.”
Industrialised scam operations were also found to be on the rise, with digital infrastructures, including deepfakes, online criminal organisations, and phishing-as-a-service kits, rising in frequency.
There is a silver lining, however, with a major increase in law enforcement response to this still relatively new facet of cyber crime.
According to the report, 2025 saw two of the “largest-ever crypto-related law enforcement actions directly connected to scam operations”, including a money laundering case seeing 61, 000 bitcoin being seized, valued at approximately £5 billion.
Prince Group, a major force-labour scam compound, was disrupted last year, seeing more than $15 billion of scammed, illicit proceeds being forfeited.
“Through specialist capabilities, international cooperation, and the effective use of financial and digital intelligence, we are better equipped to identify criminal networks, seize illicit assets, and disrupt activity that causes harm in our communities,” said Lyne.
The full report and additional findings are available here.