European Regulators Warn Consumers About Crypto and AI Scams

European financial regulators are sounding the alarm over a growing wave of crypto scams powered by artificial intelligence, warning that fraudsters are now using advanced tools that make these scams much harder to spot.  

In a joint consumer alert published last week, the European Supervisory Authorities (ESAs)* cautioned that scammers are increasingly blending cryptocurrency schemes with AI-generated content, from fake investment platforms to deepfake voices and videos impersonating trusted figures.

*The European Supervisory Authorities (ESAs) include the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and the European Insurance and Occupational Pensions Authority (EIOPA).

The message is clear: scams are evolving faster than most people expect.

Why Crypto +  AI Is a Dangerous Combination

Crypto scams aren’t new, but AI has changed the game, allowing fraudsters to:

• Generate realistic fake endorsements, videos, or voice messages
• Impersonate banks, regulators, celebrities, and even family members
• Create polished phishing websites that closely mimic legitimate crypto platforms
• Automate scam conversations that adapt in real time to victims’ responses

These techniques are now often used in investment scams, romance scams, and impersonation fraud, where victims are pressured into sending cryptocurrency or revealing sensitive login details.

Because crypto transactions are typically irreversible and hard to trace, victims often have little chance of recovering lost funds.

Regulators Warn Consumers to Watch for These Red Flags

The ESAs highlighted several warning signs that frequently appear in crypto and AI-driven scams:

• Unsolicited messages promoting “guaranteed” or “low-risk” crypto returns
• Pressure to act fast or keep the opportunity secret
• Requests to move conversations to encrypted messaging apps
• Links to unfamiliar platforms or “exclusive” investment dashboards
• Requests for private keys, recovery phrases, or identity documents

If something feels urgent, secretive, or too good to be true, regulators say it usually is.

Source: ESMA

You can go through the fact sheets, here and here.

Where Technology Can Help: Detecting Scams Before They Hook You

While awareness is critical, regulators also stress the importance of tools that can help verify content before consumers interact with it — especially when scams are designed to look legitimate.

This is where cybersecurity solutions can play a key role.

 Check Links Before You Click

Many crypto scams rely on malicious links that lead to fake exchanges, phishing pages, or malware downloads.

Using Bitdefender Link Checker allows users to quickly scan suspicious URLs before opening them. The tool helps identify:

• Known phishing and scam websites
• Links associated with fraud campaigns
• Pages designed to steal credentials or crypto wallets

A quick check can make the difference between staying safe and losing access to your funds.

Let Good AI Fight For You

Scammers are using AI, but defenders can too.

Bitdefender Scamio, our AI-powered scam detection assistant helps you evaluate suspicious messages, emails, links, and offers in seconds. Instead of guessing whether something is legitimate, you can paste a message or link into Scamio to get an instant risk assessment as well as guidance on whether it shows scam indicators.

This is particularly useful for crypto-related messages that look professional but hide subtle red flags.

What To Do If You Suspect a Crypto Scam

European regulators recommend acting quickly if you believe you’ve encountered a scam:

• Stop all communication immediately
• Do not send additional funds or information
• Change passwords on affected accounts
• Contact the crypto service provider involved
• Report the incident to national authorities or law enforcement

The sooner action is taken, the better the chance of limiting damage, even if funds can’t always be recovered.