DeepFake and Zoom Crypto Scams Shock Experts in 2025

New Bitget Report Shows Harrowing Details of DeepFake and Zoom Crypto Scams

In partnership with blockchain security companies SlowMist and Elliptic, Bitget exchange has revealed the chilling structure behind some of the most sophisticated cryptocurrency frauds that have occurred recently.

In light of the escalating number of security incidents, I’ve uncovered a series of events encompassing everything from high-level cyberattacks to instances of government interference in cryptocurrency money laundering operations.

AI Deepfakes, Social Tactics Behind 2025 Crypto Scam Rise: Bitget Report

The report highlights the methods employed by malicious entities using artificial intelligence-generated deepfakes, manipulative psychology tactics, and social engineering. It reveals the underhanded ways these actors create fraudulent videos, fabricated online identities, and bogus cryptocurrency gatherings to mislead users and erode trust within the Web3 network.

A significant point highlighted in the report is that by 2025, scammers will not only focus on stealing user data but may even manipulate victims’ realities. This can range from deepfakes involving celebrities to fraudulent job offers and bogus Zoom meetings. These new scams cleverly combine advanced technological deceit with simple emotional manipulation.

As a researcher, I’ve organized the most detrimental risks in my study into three fundamental categories: deepfake identity fraud, social engineering cons, and sophisticated Ponzi ploys. Among these threats, deepfakes stand out as the most cunning.

AI Deepfakes Blur the Line Between Real and Fake

In the beginning of 2025, authorities in Hong Kong apprehended 31 suspects who were part of a deepfake scam organization. These criminals managed to steal $34 million by posing as executives from cryptocurrency companies during fraudulent investment calls. It is worth noting that this was only one of the 87 similar schemes dismantled throughout Asia within the first quarter of the year.

The report mentioned that attackers might create convincing audio and visual replicas of prominent figures such as project leaders, exchange executives, or influential community members, using advanced AI technology. This artificial content is designed to deceive users, and it’s frequently indistinguishable from real material.

Using technologies such as Synthesia, ElevenLabs, and HeyGen, malicious individuals can generate realistic impersonations of well-known figures like Elon Musk and Singapore’s Prime Minister. These impostors craft authentic-looking videos for the purpose of endorsing fraudulent websites.

These videos are frequently shared across platforms such as Telegram, Twitter, and YouTube Shorts. According to the findings, they typically disable comment sections to uphold an appearance of credibility.

One instance featured manipulated video snippets, depicting Singapore’s Minister Lee Hsien Loong as an advocate for a “cryptocurrency project supported by the government.” This deceptive promotion allegedly attracted thousands of participants until it was identified and reported.

Zoom, but Make It a Scam

As a researcher, I’ve come across a concerning strategy that I find alarming. It appears some individuals are falsely posing as Zoom representatives and sending out deceptive meeting invitations to unsuspecting recipients. These emails appear to be from “crypto executives,” urging the recipient to download supposed software related to cryptocurrency. However, this software is often laced with Trojans, putting the victim’s device at risk. This tactic is a clear attempt to exploit trust and gain unauthorized access, making it essential for everyone to remain vigilant and exercise caution when receiving such invitations.

At gatherings, con artists employ artificial deepfake personas and falsified documents to deceive participants into granting control over their digital wallets or sanctioning harmful transactions.

Cos, the founder of SlowMist, cautions that con artists might persuasively invite you to download a phony version of Zoom for meetings. What makes it convincing is that the attendees you see in the meeting are deepfake videos. In this AI-driven era, video and voice imitation can be incredibly lifelike, so don’t let your guard down.

Inside the system, attackers may gain access to user’s browser information, cloud storage, and cryptographic keys, potentially leading to complete account takeover. This complex type of attack can be seen as a modern form of “identity theft,” which combines technical breaches and manipulation of social trust relationships.

Social Engineering to Exploit Human Vulnerability

Bitget’s report underscores how contemporary scams are heavily based on psychological manipulation rather than just coding. A significant development is the increase in “AI Arbitrage Bot” frauds, where con artists lure victims with promises of easy profits using allegedly intelligent contracts mimicking ChatGPT.

Malicious individuals deceive users into running harmful software on fake Remix IDE interfaces, causing the users’ funds to be swiftly transferred to fraudulent digital wallets.

A less favorable scenario is that these strategies tend to be relatively small, focusing on exploiting victims for amounts between $50 and $200 each time. Although the individual losses may not prompt investigation, the frequency of these occurrences allows the perpetrators to amass substantial collective earnings.

Ponzi Schemes Behind Promised Yields

In addition to AI-created frauds, Bitget cautions that old-fashioned Ponzi and pyramid schemes are still prevalent but have adapted. They’ve essentially evolved digitally, exploiting blockchain technologies, swift viral promotions, and the misleading appearance of legitimacy through smart contracts.

In my experience as a crypto investor, rather than hidden offshore bank accounts, today’s swindlers lure potential victims into the trap through engaging Telegram communities, hyped-up tweets, and digital tokens that incorporate referral systems, making it easier for them to expand their network of unsuspecting investors.

Smart contracts lend a deceptive layer of decentralization and openness to such scams. However, intricately disguised economic models for tokens seem legitimate at first glance, but ultimately crumble when their eventual downfall occurs.

A powerful combination of social influence and viral internet trends is driving this change. Often, con artists or unidentified advocates spread these frauds using memes, endorsements, or even artificial intelligence-created videos that mimic trustworthy individuals.

As an analyst, I’ve noticed a concerning trend where projects labeled as “community-driven” Decentralized Autonomous Organizations (DAOs) or staking protocols entice users with promises of unsustainable yields. This influx of buy-ins generates a feverish market activity that often obscures the actual exit liquidity strategy. In simpler terms, it’s like being offered a lucrative job opportunity, but upon closer inspection, you realize the employer has no plan to pay its employees or exit the market.

In my pursuit of understanding the dynamic digital landscape, I find myself constantly grappling with the elusive nature of Ponzi schemes that proliferate at an unprecedented pace. Given the lag in regulatory measures, it becomes increasingly challenging to trace these schemes effectively due to their expansive reach.

A Call for Skepticism and Collective Defense

In light of recent events, Bitget has unveiled an Anti-Scam Center. This innovative feature uses real-time analysis of user behavior to identify and flag potential fraudulent actions.

As a researcher, I’ve teamed up with Elliptic and SlowMist to track down and halt the flow of illicit funds, as well as dismantle phishing networks that span various blockchain platforms.

The report advises users to cross-check all guidelines regarding assets on various platforms, emphasizing that visual and audio trustworthiness alone is insufficient nowadays. Additionally, it recommends that projects consider using on-chain signature dissemination and ensure they have one reliable, authenticated means of communication.

As scams become more sophisticated, it’s crucial for users and the entire ecosystem to step up their defense mechanisms. The cryptocurrency sector now finds itself tackling a twofold issue: ensuring security of assets and restoring faith among users in an era where identities are not always clear-cut in the digital realm.

This report was published shortly following President Santiago Peña’s Twitter post about Paraguay recognizing Bitcoin as official currency. Yet, it has been discovered that his Twitter account might have been hacked. Warning signs include a specific Bitcoin wallet address and peculiar language, which have sparked suspicions of a scam.

As an analyst, I found myself delving into a peculiar situation where it was reported that the account of the President of Paraguay had been compromised. The culprit behind this hack made a bold declaration, stating Bitcoin has now become legal tender in Paraguay. However, further investigation revealed that this announcement was a hoax.
Despite being untrue, the markets momentarily showed signs of reaction to this false claim. Intriguingly, Paraguay already holds a $5 million reserve in Bitcoin and has a crypto bond program. This incident serves as a reminder of the profound impact even fake news can have on financial markets.
— Justin Wu π (@hackapreneur) June 10, 2025

Likewise, more recent findings suggest that North Korean IT workers have been employing fake identities to circumvent Know Your Customer (KYC) verifications. According to BeInCrypto’s report, these individuals are said to channel their cryptocurrency earnings towards the nation’s military programs.

These occurrences underscore the increasing danger posed by unscrupulous individuals in cryptocurrency, emphasizing the importance of being more vigilant.

2025-06-10 13:22