The California Department of Financial Protection and Innovation (DFPI) has received 2,668 complaints in 2024.
The seven new types of scams include fake Bitcoin mining schemes, fake crypto gaming schemes, fake job offers, theft of private keys through fake airdrops, fake investment group scams, AI investment scams, and sham websites.
The AI industry has reached a market cap of $638 billion in 2024.
Victims have reported losses of up to $146,306 per person due to these scams.
The California Department of Justice (DOJ) has taken down 42 crypto scam websites that stole $6.5 million from victims.
California Financial Regulator Warns of 7 New Types of Crypto and AI Scams
The California Department of Financial Protection and Innovation (DFPI) has issued a stern warning about seven new types of crypto and AI scams that have been reported by users through thousands of complaints in 2024.
The Rise of AI-Driven Scams
One of the most significant concerns highlighted by the DFPI is the rise of AI-driven scams. The AI industry has experienced significant growth in 2024, reaching a market cap of $638 billion, according to Precedence Research.
The Impact of Scams on Victims
The impact of these scams on victims can be devastating. The DFPI has warned that victims have reported losses of up to $146,306 per person due to these scams.
California DOJ Takes Down 42 Crypto Scam Websites
In a separate development, the California Department of Justice (DOJ) has taken down 42 crypto scam websites that stole $6.5 million from victims.
The Importance of Crypto Security
The rise of crypto scams highlights the importance of crypto security and the need for users to take steps to protect themselves.
Verifying the authenticity of websites and platforms
Avoiding interactions with unknown platforms
Using strong passwords and two-factor authentication
Keeping software and systems up to date
Being cautious of unsolicited offers and investments
