Female Offender Set for Four-Year Imprisonment Following Participation in $800,000 Business Email Scam, Deceiving Victims to Transfer Falsified Bank Funds
Crypto Scams, Hacks, and Breaches: Top Emerging Threats in 2025
A Scranton accountant, Margo Ann Williams, faces a four-year prison sentence for her role in a multistate business email compromise (BEC) scheme that defrauded victims of $800,000. The scheme, carried out between December 2022 and July 2023, targeted the accounts of five victims, including a Cedar Rapids church, two businesses, a non-profit, and an individual.
Market Mover:As the crypto landscape grows and evolves, so do the tactics used by scammers and hackers. In 2025, threats range from BEC schemes to AI-powered deception. Learn about current trends and rising threats, and stay ahead of the game to protect your digital assets.
The BEC Scheme: A New Twist on an Old Trick
In the Williams' case, the victims were tricked into changing their banking details for wire and automatic clearing house (ACH) transfers. U.S. Attorney's Office for the Northern District of Iowa provided evidence showing that the funds were rerouted to Williams' controlled accounts, transferred through crypto exchanges, and spent on personal items like an Apple Watch.
Emerging Trends in Crypto Scams and Hacks
AI-Generated Deepfakes
Criminals are using increasingly sophisticated AI tools to create deepfake videos and audio, impersonating CEOs, influencers, and other trusted figures. These deepfakes convince victims to transfer cryptocurrencies or reveal sensitive information. A deepfake video of Elon Musk was used to solicit fraudulent crypto giveaways on YouTube, resulting in at least $5 million in losses.
Phishing Attacks with AI-Powered Techniques
Scammers are leveraging advanced AI to create more convincing phishing emails and SMS (Short Message Service) messages, making it harder for businesses and users to detect and defend against these attacks.
The Intersection of IT Security and Crypto Assets
The Coinbase breach in 2025 highlights the vulnerability of traditional IT security weaknesses, as hackers targeted a call center in India and exploited business processes to gain access to sensitive information. This incident underscores the importance of securing both traditional IT systems and cryptocurrency assets to avoid breaches and thefts of digital assets.
Staying informed and aligned with industry trends is essential for businesses in the crypto ecosystem to stay ahead of evolving threats and protect their digital assets effectively. Keep an eye on market developments and strengthen your security measures to minimize your risk.
We'll keep you updated with the latest news on scams, hacks, and breaches affecting the crypto community.
[1] Coinbase Breach: Analyzing the Call Center Cyberattack That Exposed Sensitive Data (cybernews.com)[2] Teen Hackers Breach Coinbase and Access Sensitive Company Data (zdnet.com)[3] Over $2.3 Billion in Cryptocurrency Stolen in 2025 as Hacks, Scams Grow (coindesk.com)[4] AI-Powered Phishing Attacks Are Targeting You—Here's How to Fight Back (forbes.com)[5] New Deepfake Scams Emerging in the Crypto Space: A Threat Analysis (advancedcybersecuritygroup.com)
- With the rise of AI-generated deepfakes, scammers are impersonating high-profile individuals like Elon Musk to solicit fraudulent cryptocurrency giveaways, leading to significant losses.
- As the crypto space continues to expand, traditional IT security failures are being exploited, as demonstrated by the Coinbase breach in 2025, where hackers targeted a call center in India to access sensitive data.
- Blockchain and cryptocurrency have become attractive targets for crime-and-justice actors, with over $2.3 billion in cryptocurrency stolen in 2025, emphasizing the importance of general-news and finance industries to stay updated on emerging threats and strengthen security measures.
