Using dipfakes, fraudsters have stolen 61% more cryptocurrencies this year than last year

According to the British bank Santander UK, the number of fraudulent cryptocurrency schemes allegedly «supported by celebrities» increased by 61% in the first half of 2022. This caused investors to lose £2 million.

Given the rate of growth of fraud, the bank warned that the number of defrauded investors will only increase. «We're seeing an alarming rise in cryptocurrency fraud, with celebrity faces being used to attract attention on social media. All in order to deceive people who have savings and want to change their lives by believing the stars in the ads. Instead of receiving the promised profits, people lose significant amounts of money,» said Chris Ainslie, Head of Fraud Risk Management.

In fact, fakes, deepfakes, and fake accounts are serious means of manipulating users into believing everything said by celebrities. Thus, deepfakes have long ceased to be used purely for entertainment purposes and are now used to lure money. However, the European Union is already working to solve this problem. The updated EU code on combating disinformation will require large tech companies such as Google, Twitter, and META to counteract deepfakes and fake accounts on their platforms. Failure to take down deepfakes will be punishable by fines of up to 6% of the corporations' global turnover.