Australia's financial regulator, ASIC, recently announced the takedown of over 600 cryptocurrency scams within a year, warning that AI is making these scams harder to detect. The scams, often involving deepfakes and fake celebrity endorsements, have contributed to $1.3 billion in losses for Australians in 2023. Despite this, some experts suggest AI could also help prevent scams by analyzing and flagging suspicious activities. However, the growing sophistication of these schemes poses ongoing challenges.