Crypto Influencer’s Fake ID Used in AI-Driven Scam to Steal $4M

Scott Melker, host of The Wolf of All Streets podcast, has revealed that scammers are impersonating him using advanced AI tools—leading to at least one reported fraud totalling $4 million.

In a 23 April statement, Melker said he was contacted by a private investigator whose client had been duped by a Nigerian-based group that used AI-generated IDs, a fake email account, and even deepfake video calls to pose as him.

Melker noted that they are conducting Zoom meetings with AI-generated avatars that appear frighteningly real.

He added that the scammers also spoofed accounts claiming to be his wife and children to bolster credibility.

The incident is part of a growing trend: technical analysts known as TheChartGuys reported a similar case involving a $5,000 scam in which fraudsters replicated their voice using deepfake technology.

Trader Says Fake ID Behind Scam Was Easy to Spot

Crypto adviser and trader “Nebraskan Gooner” remarked that even a simple Google search is enough to expose the fake ID used in the recent scam involving Melker’s likeness.

He noted minor but telling inconsistencies in address and date formatting, expressing surprise at the low quality of the forgery given the apparent sophistication of the broader operation.

As AI technology advances, so do the scams it enables.

In March, California’s Department of Justice identified seven new types of AI-driven crypto fraud.

A month earlier, Chainalysis predicted that 2025 could be a watershed year for such schemes, warning that generative AI is making scams cheaper, faster, and more scalable.

Microsoft echoed that sentiment in a recent report, noting that malicious actors are using AI to “supercharge their scams,” amplifying both their reach and impact.

It stated:

“AI tools can scan and scrape the web for company information, helping cyberattackers build detailed profiles of employees or other targets to create highly convincing social engineering lures.”

The crypto influencer lamented:

“It’s going to get exponentially worse, I would imagine.”