This scam was very common before, but most of it started from someone online telling someone that might become the victim to access an exchange or a wallet (but mostly an exchange), telling the person that the exchange is very good. Also luring the victims to refer people and earn money. The money showing on the exchange are just numbers set by the attacker but the victims will think it is money. The victims will realize that it is not money when they want to withdraw but not able to withdraw.
That was actually quite common in the past. But I'm talking about 2019/2020, when the last Bitcoin bull run attracted a relatively high level of attention from average consumers to Bitcoin and co.
However, I am no longer aware of any such cases, and you no longer read about such scamming incidents on Reddit or here in the forum.
What does happen, of course, is that someone falls for a mirror site and deposits money there. This applies to online gambling as well as, for example, larger exchanges when someone uses a mirror link that points to a scam site (e.g., binance-scam.com instead of binance.com). However, you can easily protect yourself against this by double-checking the URL and/or only using URLs from your favorites.
AI can also be used very effectively here to check a URL.