New York Warns of Fake Crypto and AI Scams as US Investment Fraud Losses Hit $8 Billion in 2025

August 29 news, according to Bitcoin.com, the New York State Department of Consumer Protection has issued an AI investment scam warning, stating that US investment fraud losses exceeded $8 billion in 2025, up 38% year-over-year, with a median loss of $10,560. Scammers use AI-cloned voices, forged videos, impersonate financial professionals, and create realistic social media ads to promote fake crypto projects. The New York Attorney General previously warned of rampant scams involving deepfake celebrity endorsements, fraudulent cryptocurrencies, pump-and-dump schemes, and fake trading platforms. Australian regulators have dismantled 3,106 fraudulent crypto investment platforms in fiscal year 2026. New York officials advise consumers to verify promoter identities, confirm companies and investment targets, understand where funds go, and remain vigilant against projects guaranteeing high returns, unsolicited pitches, high-pressure sales, and those lacking clear documentation.