AI is fueling a surge in crypto fraud schemes, IRS investigators say
Summary
A 73-year-old woman named Kyle Holder lost $300,000 of her life savings in a cryptocurrency scam that used artificial intelligence (AI) to trick her. The FBI says thousands of Americans lost an estimated $20 billion to cyber thefts in 2025, with over half involving cryptocurrencies.Key Facts
- Kyle Holder was contacted via WhatsApp in late 2024 by someone offering crypto investment coaching.
- The scammer, using the name Niamh, built a friendly relationship before asking for money transfers.
- Holder sent nearly $300,000 to 14 different cryptocurrency wallets controlled by the scammers.
- AI was used by criminals to manipulate and fool victims more effectively.
- When Holder questioned the scam, the messages became more threatening.
- Holder suffered serious emotional and financial harm, leading to her moving into an assisted living facility.
- The IRS Criminal Investigation unit is investigating the scam and tracing the cryptocurrency transfers.
- The FBI estimates $20 billion was lost in crypto-related cyber thefts by Americans in 2025.
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