Key takeaways

• AI is industrializing crypto fraud: Artificial intelligence has transformed crypto-enabled fraud from a labor-intensive activity into a machine-scaled ecosystem driven by automation, personalization, and rapid iteration.
• Illicit crypto activity reached record levels in 2025: Illicit crypto volume totaled USD 158 billion in 2025, increasing nearly 145% year over year. TRM estimates that scam-related activity alone accounted for approximately USD 30 billion, with underreporting likely pushing the true figure significantly higher.
• AI dramatically increases scale, speed, and adaptability: TRM observed an approximately 500% increase in AI-enabled scam activity over the past year, reflecting rapid integration of generative AI into…