In the first week of 2025, many police around the world arrested criminals targeting cryptocurrency and AI-related scams.

In Vietnam, on January 5, police arrested four people for a crypto mining scam in which they stole 4 billion Vietnamese dong (about $157,300) from more than 200 victims. These scammers offered investment opportunities to their victims using BitMiner, a fake crypto mining website.

The site initially looked quite professional and offered questionable packages and educational materials regarding crypto mining. According to its announcements, the fake website advertised itself as a Dubai-based crypto mining company and promised extremely high investment returns.

Victims deposited large sums of money, deceived by the platform’s professional appearance and attractive promises. However, they did not make any profit as a result of mining.

Scammers charged additional fees to victims who attempted to withdraw their winnings, a tactic commonly known as “advance payment fraud.” In these types of scams, victims never get their deposit back after being told they must pay more.

In the United States, the Springfield, Massachusetts police warned citizens against cryptocurrency scams. Particular attention was paid to crypto ATM frauds. Police stated that fraudsters direct people to crypto ATMs and make them send money.

Authorities emphasized that one should be careful against such scams and be sensitive to phone calls requesting crypto money or Bitcoin. Cryptocurrency scams can come in a wide variety of forms, but these types of scams are often carried out using fake platforms or machines to mislead victims.

In Hong Kong, on January 5, a group of 31 fraudsters were arrested. Most of the criminals in this group were university students. Hong Kong police announced that this group defrauded its victims using artificial intelligence (AI).

Using AI face-swapping technology, criminals pose as good-looking men and women to initiate romantic relationships. This scam specifically targeted victims from Taiwan, Singapore, Malaysia, and the United States.

After gaining the trust of the victims, the fraudsters lured them into financial traps and stole large sums of money. Hong Kong police raided and seized two locations where criminals carried out their operations. The goods seized included cash, luxury bags and watches worth 10 million Hong Kong dollars.

The use of artificial intelligence technology in the world of fraud has increased in recent years. AI has created new opportunities for fraudsters, leading to victims being attacked in greater numbers and with more sophistication.

In addition to manipulating victims with AI’s deceptive face-swapping abilities, such scams can sometimes take advantage of victims’ emotional vulnerabilities.

Overall, crypto scams and AI-powered scams pose dangers that require investors to be more careful. Authorities state that transactions should only be made with licensed and reliable financial institutions, and understanding scammers’ tactics can reduce the risk of falling victim.