The host of “The Wolf Of All Streets” podcast, Scott Melker, has recently been alerted to scammers impersonating him to deceive individuals, resulting in a loss of $4 million. Melker disclosed on April 23 that a private investigator informed him about a victim who fell for a $4 million scam orchestrated by a Nigerian group using his identity. The scammers went as far as creating a fake driver’s license with Melker’s photo and used his X avatar. They employed AI to fabricate the fake ID and also utilized a deceptive email account. These scammers even went to the extent of mimicking Melker’s wife and children to enhance their facade. Technical analysts known as “TheChartGuys” reported a similar incident where a person was scammed out of $5,000 by scammers who replicated their voice using AI deepfakes. Crypto adviser and trader “Nebraskan Gooner” highlighted the discernible discrepancies in the fake ID, indicating that a simple Google search could reveal its inauthenticity. As AI-powered scams continue to rise, Melker expressed concerns about the escalating sophistication of these fraudulent activities. California’s Department of Justice recently identified seven new AI-based crypto scams, while Chainalysis predicted a surge in AI scams in 2025. Microsoft also warned about cybercriminals leveraging AI to enhance their deceptive schemes. Melker anticipates a worsening situation with AI-powered scams in the future.