According to a new report from Elliptic, artificial intelligence (AI) is increasingly being used to commit crimes in the crypto-asset ecosystem. The report notes that criminals are increasingly using generative artificial intelligence to create deepfakes and other deceptive materials to carry out crypto scams. In addition, artificial intelligence-related scam tokens, investment platforms, Ponzi schemes, and fake trading bots have also increased significantly. Elliptic notes that scammers often use popular techniques and buzzwords to create tokens or investment schemes that ultimately lead to exit scams. One notable incident involved a fake artificial intelligence trading robot scam called iEarn in 2023, which caused about $6 million in losses. The proliferation of artificial intelligence trading robots prompted the U.S. CFTC to issue a warning in January. The report adds that in addition to creating tokens, scammers are using artificial intelligence as a means to hype on fraudulent investment platforms. In particular, scammers are trying to leverage the potential of artificial intelligence to enhance trading or arbitrage capabilities. Additionally, artificial intelligence technology is being used to facilitate large-scale crypto scams and misinformation campaigns.