One in Three Americans Faces Crypto Fraud Amid Rising Adoption
Cryptocurrency adoption in the United States continues to climb, but so do the risks. Sumsub's latest research reveals that 36% of U.S. adults engaged with digital assets in the past year, with younger generations leading the charge—46% of Gen Z and 49% of Millennials reported exposure to scams.
Fraud takes many forms: Ponzi schemes, fake giveaways, and social engineering each account for 30% of reported incidents. Phishing, rug pulls, and synthetic identity fraud—often powered by AI deepfakes—are also rampant. The latter saw a 300% surge in Q1 2025 compared to the previous year, while deepfake-related fraud spiked 700%.
Despite these challenges, the market marches forward. The financial toll on victims remains significant, though exact figures were truncated in the source material. Regulatory scrutiny and platform accountability are now unavoidable conversations as crypto intersects with traditional finance.
