Cybersecurity expert warns that Bitcoin scams were the predominant hoax in 2025
Bitcoin scams emerged as the most prevalent fraudulent activity in 2025, marking a significant change in the landscape of cybercrime, as highlighted by cybersecurity expert David Derigiotis. The surge in Bitcoin-related scams resulted in losses exceeding $330 million, a stark increase from the $250 million reported in 2024. What makes these scams particularly insidious is their ability to deceive individuals, regardless of their familiarity with cryptocurrencies. Derigiotis revealed that the typical victim of Bitcoin scams is around 71 years old, indicating that scammers target vulnerable populations with precision.
The modus operandi of Bitcoin scammers involves a straightforward yet effective process that lures individuals into transferring funds to Bitcoin kiosks. By guiding victims through a seemingly simple transaction, scammers are able to coerce unsuspecting individuals into transferring money to these kiosks, subsequently converting the funds into untraceable Bitcoin. Leveraging advanced technology, scammers can fabricate realistic documents, such as fake arrest warrants, within moments, exploiting AI algorithms to create convincing narratives that coerce recipients into complying with their demands. Moreover, scammers utilize a myriad of internet numbers and spoof numbers to obfuscate their origins, complicating efforts to trace and apprehend them.
Bitcoin’s appeal to scammers lies in its unique characteristics. Firstly, Bitcoin’s decentralization enables borderless transactions, facilitating the transfer of funds across international borders rapidly. Secondly, the irreversibility of Bitcoin transactions means that once funds are sent, they are virtually impossible to recover, empowering scammers to abscond with ill-gotten gains. Derigiotis emphasized the ubiquity of Bitcoin kiosks in the United States, underscoring the accessibility of these platforms to victims nationwide. The absence of intermediaries, such as bank tellers, further diminishes the likelihood of intervention or deterrence in preventing fraudulent transactions.
In the face of escalating Bitcoin scams, education emerges as a potent tool in combating fraudulent activities. Derigiotis underscored the importance of vigilance, emphasizing that legitimate entities never request payment in Bitcoin or gift cards. Any solicitation demanding such forms of payment should be met with immediate suspicion and terminated promptly. By raising awareness about the prevalence of Bitcoin scams and urging individuals to exercise caution when confronted with unsolicited requests for cryptocurrency payments, the public can shield themselves from falling victim to these pervasive scams.
With cybercriminals exploiting the allure of Bitcoin to orchestrate elaborate scams, it becomes imperative for individuals to remain vigilant and informed to safeguard their financial assets and personal information. By staying abreast of emerging threats and exercising skepticism towards unfamiliar requests for cryptocurrency payments, individuals can fortify their defenses against fraudulent activities in an increasingly digital landscape.
