Crypto needs to increase defenses against 654% spike in deepfake scams
Deepfake scams are everywhere, and detecting them with the naked eye is fast becoming impossible. Awareness and education need to be improved.
Opinion by Ilya Brovin, chief growth officer at Sumsub. Ilya is an expert in crypto operations and regulations worldwide and has over 20 years of experience in finance and private quality. He holds a degree in economics and finance and an MBA from Harvard Business School.
Between 2016’s Bitfinex hack, 2018’s Coincheck hack and other controversial incidents in recent years, the crypto industry has faced significant reputational challenges.
In 2024, a new threat emerged: crypto scams featuring celebrity “deepfakes” — highly convincing images of people appearing genuine but who are not. These scams use realistic deepfake images and videos of famous personalities to deceive crypto enthusiasts, leveraging this technology to exploit the unsuspecting, perpetrate fraud and confuse less tech-savvy individuals.
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Author: Ilya Brovin
