AI Fraud Targets Wallet Approval Processes

Fraud involving cryptocurrency that utilizes AI is shifting from hacking wallets to obtaining user approvals and signatures. The attack points have expanded from the blockchain itself to include identity verification, wallet approvals, recovery requests, and payment instructions. TRM Labs reported a score of 54 out of 100 for the level of AI adoption in cryptocurrency crimes in its "2026 AI Crime Adoption Index," an increase from 28 points in 2024. According to the report, fraud has been classified as being in a 'mature' stage, while hacking and ransomware remain in the 'early diffusion' stage. When users are tricked into granting wallet access permissions through fake support channels or AI chatbots, transactions are processed with legitimate signatures. TRM Labs noted that the proportion of AI used in actual attacks has increased approximately 13 times since 2022. Reported losses from deepfake fraud are expected to be 263% higher in 2026 than in 2025. Chainalysis estimates that losses from cryptocurrency fraud will exceed $17 billion in 2025, analyzing that the average profitability of AI-linked fraud organizations is 4.5 times higher than traditional fraud. According to FBI statistics, AI-related reports are expected to reach 22,364 in 2025, with losses amounting to approximately $893 million. Coinbase described approval phishing as a type of fraud that tricks users into relinquishing wallet access permissions, identifying 20,000 victims and freezing over $12 million in stolen funds. AI fraud has made existing scams faster and more convincing, shifting the focus of wallet security to manipulating user decision-making.

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