The Rise of Deepfake Scams — And How Not to Fall for One | by CoinGen | Coinmonks | May, 2025

Imagine scrolling through Instagram and seeing a trusted public figure like Martin Wolf or Martin Lewis giving you a hot stock tip or investment opportunity. It looks like them. It sounds like them. But it’s a lie — and it could cost you thousands.

Welcome to the new era of deepfake scams.

Deepfakes are digitally manipulated videos or images created using artificial intelligence (AI). They can make someone appear to say or do something they never actually did. These aren’t just silly face swaps anymore — they’re being used by scammers to steal money, mislead users, and spread disinformation.

The short answer: technology is getting better and cheaper.

Generative AI tools are now freely available, making it easy for scammers to produce high-quality fake videos. With just a few minutes of someone’s voice or video footage, a deepfake can be made to impersonate anyone — from world leaders to your favorite celebrities.

For example:

• Fake videos of Martin Wolf, a senior Financial Times columnist, have surfaced on Instagram urging users to join “exclusive investment groups.”
• Deepfakes of Martin Lewis, a personal finance expert, have falsely promoted bogus bitcoin schemes.
• Even global stars like Elon Musk…