Chainalysis says impersonation crypto scams jumped about 1,400% in 2025

Chainalysis reported that impersonation scam incidents rose roughly 1,400% year over year in 2025, with fraudsters increasingly posing as trusted people or organizations to steal crypto, passwords and account access, the firm said in its 2026 Crypto Scams Report. Impersonation scams often combine social engineering with other techniques.

Chainalysis said the average amount stolen through impersonation scams increased by over 600%, a trend it called "concerning," and noted that "many pig butchering and investment scams incorporate elements of impersonation, social engineering, and even technical- or wallet-focused scams." One high-profile case in 2025 involved scammers masquerading as crypto exchange Coinbase and stealing nearly $16 million from victims.

The Brooklyn District Attorney’s office indicted a man in December, alleging he was behind the fraud; the accused has pleaded not guilty to multiple charges, including grand larceny, money laundering and scheme to defraud, and a trial date is yet to be set. Chainalysis said artificial intelligence is part of the "industrialization of fraud," with scams using AI 4.5 times more profitable and showing higher daily revenue and increased transaction volume.

"These metrics suggest both higher operational efficiency and potentially broader victim reach," the firm said, adding that AI appears to make scams more persuasive.

Key Topics

Crypto, Chainalysis, Impersonation Scams, Coinbase, Artificial Intelligence, Pig Butchering