AI tools are rapidly transforming online fraud into a more scalable and lucrative business, with crypto scams linked to AI vendors extracting more money than traditional schemes, according to a new blockchain analysis.
Data reviewed by Chainalysis shows that scams with demonstrable on-chain links to AI vendors are far more severe and efficient than those without such links.
The blockchain security firm says about 76% of AI-enabled scams fall into a high-value, high-volume category.
“This means that a large majority of scams with demonstrable on-chain links to often Telegram-based Chinese AI vendors selling face-swap software, deepfake technologies, and LLMs tend to (1) scale more quickly (i.e., higher incoming transfer rates) and (2) be more severe (i.e., higher daily USD volumes) than scams without these clear on-chain links to AI vendors.”
On average, scams with on-chain ties to AI vendors extract roughly $3.2 million per operation, compared with about $719,000 for scams without visible AI links. That translates into roughly 4.5 times more revenue per scam. The difference also shows up in operational efficiency. AI-enabled scams generate a median daily revenue of $4,838, versus $518 for non-AI-linked scams, and average more than 35 transactions per day, compared with fewer than four for traditional scams.
According to Chainalysis, higher transaction volumes suggest AI allows scammers to manage many victims simultaneously, while higher dollar totals point to scams becoming more persuasive.
The findings align with a July 2025 report from JPMorgan, which warned that scammers are increasingly using deepfake technology and AI-generated content to carry out romance and investment fraud.
Together, the data suggest AI is accelerating the industrialization of fraud, turning scams into faster-moving and far more profitable operations.
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