TechFlow news, January 14 — According to a recent Forbes report, the global cryptocurrency scam market has reached $14 billion annually and could grow to $17 billion. Data from Chainalysis shows that scam groups using AI tools steal an average of $3.2 million per incident—4.5 times more than those not using AI. "Pig butchering" scams are rampant on social platforms such as LinkedIn, Instagram, and Tinder, where fraudsters lure victims into investing in fake cryptocurrency platforms before disappearing with their funds. Law enforcement agencies have developed tracking technologies and successfully recovered billions of dollars in stolen crypto assets last year. Meanwhile, Grok AI on platform X is under regulatory investigation in the UK for allegedly generating illegal content.
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