Crypto Scams 2025: How Hackers Are Using AI and Drainers to Rob Investors
Types of Crypto Scams
In 2025, cryptocurrency investors in the USA and Canada are under attack like never before.
Hackers, fraudsters, and nation-state actors are using AI-generated deepfakes, phishing emails, wallet-draining scripts, and fake investment platforms to steal crypto often with little to no chance of recovery. So far, Americans have lost over $9.3 billion this year alone to crypto scams. Canadian investors are facing a parallel crisis. If you’re a crypto holder, this article is your frontline defense.
1. AI Deepfakes Are the New Face of Fraud
Imagine Elon Musk offering you free Ethereum in a livestream. Or Justin Trudeau endorsing a new Canadian crypto investment platform. Both happened and both were fake.
AI-generated deepfakes are being used to impersonate celebrities and politicians to trick users into clicking malicious links, joining fake airdrops, or sending crypto in "giveaways." One Elon Musk deepfake collected over $5 million in ETH from unsuspecting investors.
Protect Yourself: No legit giveaway will ask you to send crypto first. Period.
2. Wallet Drainers & Drainer Kits: The Silent Killers
Phishing has evolved. Now, malicious websites and Telegram bots trick users into signing transactions using their real wallets. These "wallet drainers" immediately siphon off funds without needing your seed phrase.
Dark web markets are now selling "drainer kits" as plug-and-play scam tools. A single click can cost you everything.
Protect Yourself: Never connect your wallet to unknown sites. Double-check URLs. Use hardware wallets for large funds.
3. Pig Butchering: Romance + Crypto = Scam
Organized scam rings are grooming victims over weeks on dating apps, convincing them to invest in fake crypto platforms. Victims see fake profits and keep investing—until the site disappears. Losses have exceeded $75 billion globally.
In April, a Maryland woman lost millions. When she tried to report it, she got hit again by a fake “recovery agent.”
Protect Yourself: Anyone pushing crypto investment after building emotional trust is a red flag. Always research before you invest.
4. Exchange Breaches and Insider Attacks
Bybit lost $1.5 billion this year yes, billion—in the largest crypto exchange hack ever, tied to North Korea’s Lazarus Group. Coinbase also saw $400M vanish after insider social engineering.
Bybit Hacker Wallet discovered by Arkham Intelligence, Wallet Link - Bybit Hacker
Protect Yourself: Stick to reputable exchanges, use 2FA, and avoid storing everything on hot wallets.
5. Meme Coin Rugpulls Are Back
Don’t get tricked by hype. A Solana-based meme coin LIBRA hit a $4.5B market cap and crashed 94%. Devs vanished. The same old rugpull but bigger.
Protect Yourself: Check if the dev team is doxxed, the smart contract is verified, and the tokenomics make sense.
Final Thoughts: How to Stay Safe in 2025
- Use hardware wallets and never share your seed phrase
- Don't trust unsolicited DMs whether romance or investments
- Bookmark official URLs. Don’t rely on search ads
- Stay updated via official regulators and scam trackers
- When in doubt, don’t click. Don’t connect. Don’t send
Crypto is revolutionary. But 2025 proves one thing: the bigger the opportunity, the louder the scammers.
Be smarter. Be safer. HODL wisely.