Bitget has launched the third edition of its Anti-Scam Month initiative, releasing a comprehensive report titled “The Evolution of Fraud in the Multi-Asset Era.” Produced in collaboration with blockchain security firm SlowMist, the report examines how fraud tactics are adapting as investors increasingly engage across multiple asset classes, including cryptocurrencies, tokenized assets, stocks, CFDs, and AI-powered investment tools.
Key Findings on Multi-Asset Fraud Growth
The report highlights a significant shift in user behavior: the share of active investors participating in two or more asset classes surged from under 1% in mid-2025 to over 10% by May 2026. This diversification has created new opportunities for fraudsters, who now orchestrate campaigns that blend multiple narratives, social engineering techniques, AI-generated content, and various communication channels into a single operation.
Between July 2025 and June 2026, Bitget’s security systems intercepted more than 150 million malicious requests, flagged over 13,000 high-risk IP addresses, handled 18,135 user protection cases, and facilitated the recovery of $32.3 million tied to security incidents and fraudulent activity.
Emerging Fraud Trends
The report identifies several key threats reshaping the fraud landscape:
- AI-generated investment personas and deepfake-enabled scams, including a case where fraudsters impersonated Cypriot President Nikos Christodoulides.
- Voice-cloning attacks used to deceive victims into authorizing transactions.
- Synthetic investment communities, such as the “Truman Show” scam that fabricated approximately 90 investor identities to build false trust.
- Wallet-draining operations, exemplified by the Rublevka Team operation documented in early 2026.
- Malicious smart contracts and increasingly sophisticated phishing campaigns.
Victim Psychology and Recovery Challenges
Beyond describing how scams operate, the report delves into victim psychology, common entry points for fraud, post-theft asset movement, and the difficulties of recovery. It also provides practical guidance for users to strengthen account security, recognize AI-enabled deception, evaluate investment opportunities, and respond effectively to incidents.
“Security challenges evolve alongside markets. As more users participate across crypto, stocks, tokenized assets, and AI-powered products, fraud campaigns are becoming sophisticated in how they build trust and influence decision-making,” said Gracy Chen, CEO of Bitget. “Understanding those risks is an important step toward protecting users and strengthening confidence across the broader ecosystem.”
Broader Context and Industry Implications
The findings come amid a period of heightened regulatory and market activity. For instance, the Bank of England finalized stablecoin rules that ease asset caps and issuance limits, while Bitget Stock+ now lets crypto users buy real US equities with USDC, further blurring the lines between digital and traditional markets. These developments underscore the need for robust security measures as cross-asset participation grows.
Since launching Anti-Scam Month in 2024, Bitget has collaborated with security researchers, ecosystem partners, and industry organizations to raise awareness about emerging threats. Throughout June 2026, the campaign will feature educational content, security awareness initiatives, and partnerships aimed at helping users identify and defend against evolving fraud tactics.
This article is for informational purposes only and does not constitute financial advice.
