Unauthorized artificial-intelligence bots are rapidly spreading within the Armenian crypto community.

How the “assistant” becomes a threat․

In the past two years, cryptocurrencies in Armenia have been turning into an ordinary tool for retail investors. People are actively opening accounts on international exchanges, using P2P platforms, and often experimenting with automated trading tools. These seem like logical steps — simplicity and accessibility, as well as promises of “effortless profit,” create the illusion of technological advantage.

But at the same time, a worrying trend is growing: unauthorized AI bots are rapidly spreading within the Armenian crypto community, demanding API access to exchange accounts. In local Telegram chats, unexpected withdrawals, account freezes, and disappearing funds are being discussed more frequently as a result of connecting to suspicious tools.

The situation is further complicated by a cultural factor: in Armenia, personal recommendations traditionally carry strong weight. Many users trust bots not because of security verification, but because “a friend recommended it” or “a channel says it works.” This mix of perceived trustworthiness and complex technologies leads to a rise in incidents, including significant financial losses.

How the “assistant” becomes a threat

The attack mechanisms are generally the same but are adapted to the behavior of users in the region. Victims in Armenia typically fall into the trap for two main reasons:

1. A desire to quickly increase their deposit.
   Promises of “smart trading,” daily +1–3% profits, and “AB algorithms” easily convince inexperienced investors.

2. Underestimating technical risks.
   Many do not realize that API access means almost full control over the account — from creating trades to withdrawing funds.

Incidents that revealed the scale of the threat

In November 2025, Binance’s risk analysis team recorded 12 incidents involving more than 18,000 USDT in stolen funds. A significant portion of victims were from the Caucasus and the Middle East, including Armenia.

The pattern was repetitive: the user enabled an “AI bot” for promised Alpha returns or “auto-trading,” which in reality granted attackers full access to the account.

Scheme №1 — Technical groups targeting regional users

Several international criminal groups operated bots with attractive interfaces. Although they displayed “active trading,” they only generated fake transactions. Meanwhile, the real operation — withdrawing funds to pre-prepared wallets — happened within seconds.

It was nearly impossible to block the withdrawals in time.

Scheme №2 — Even experience doesn’t save professionals

In Armenia, a notable case involved a financial risk specialist. He attempted to test a “smart AI bot.” The tool required repeated confirmations, expanding the attackers’ permissions step by step.

The exchange froze the account due to suspicious activity, and restoring control took several days — which, in active trading, is equivalent to direct financial losses.

Why unauthorized bots are especially dangerous in the Armenian context

1. Lack of security oversight.
   Most bots circulating in Armenian Telegram channels have no website, legal entity, reputation, open-source code, or verifiable history.

2. High trust within local communities.
   If one influencer or channel admin endorses a bot, hundreds of people become willing to hand over their API keys to an unknown service.

3. Legal vacuum.
   Armenia still has no mechanisms to protect crypto users.
   If a bot steals funds, there is almost nowhere to turn.
   Exchanges will not compensate users because access was granted voluntarily.

4. Reputational consequences.
   A compromised account may lead to:
   – cancellation of bonuses,
   – restricted access,
   – high-risk monitoring,
   – additional checks from international platforms.
   This is especially painful for active traders.

How to protect yourself: minimum rules for Armenian users

To protect accounts, it is important to:
– enable two-factor authentication (preferably passkey or hardware key),
– regularly check login logs and trusted devices,
– use only official verification/authentication apps,
– enable withdrawal address whitelisting.

It is crucial to completely avoid any bot that demands API access without clear reputation, verifiable history, or visible developer identity. “Fast percentage” offers circulating in Telegram channels and private chats should be immediately treated as a warning sign.

Armenian cybersecurity experts emphasize:
“If someone guarantees quick profits with no risk, that is already a red flag.”

Conclusion: The shortcut almost always becomes expensive

The experience across the region shows: an anonymous algorithm can never be safer than your personal control. “Quick profit,” “AI strategies,” and “human-free trading” often serve only as a mask for one goal — getting access to your deposit.

In Armenia, where digital literacy is improving but fraudulent tools are evolving even faster, there is essentially only one effective defense mechanism: discipline, caution, and complete rejection of gray-market automation.

In Web3, security starts not with technology but with behavior.
And the sooner this becomes part of Armenian users’ financial habits, the fewer people will fall victim to those who disguise theft as artificial intelligence.