Tl;dr: From voice clones to deepfake videos, AI is making it easier than ever for scammers to impersonate real people. This blog explores how generative AI is reshaping identity verification, what that means for consumers, and how you can protect yourself in an increasingly synthetic world.
This post is part of a weekly Tuesday series at Coinbase about the latest consumer protection and security measures for crypto owners.
At Coinbase, we’re on a mission to help update the financial system to make it safer and more secure. While only 0.14% of blockchain transactions are used for illicit activity, and cash remains the preferred medium for illegal transactions, crypto security is always a top priority. Coinbase maintains a robust compliance program, which includes Know Your Customer (KYC) checks, sanctions screenings, suspicious activity reporting, and strong law enforcement partnerships to detect and prevent illicit activity on our platform.
Imagine receiving a FaceTime call from your spouse… but it's not your spouse. Their face looks right. Their voice sounds perfect. But it’s not them, it’s a deepfake.
This isn’t science fiction. Generative AI is now capable of mimicking voices, faces, and identities with frightening accuracy. That means proving who we are—and trusting who others claim to be—is no longer as simple as a photo ID or a phone call. The rise of synthetic media is forcing a major rethink of how identity is verified in the digital age.
A synthetic identity isn’t always fully fake—it’s often a mix of real and fabricated data. And with generative AI, criminals can now add lifelike voices and videos to complete the illusion. Here’s how these scams work in real life:
1. The Deepfake FaceTime
Thieves scrape video and audio from social platforms and train AI tools to recreate a person’s likeness. They then call a family member or coworker, claiming to be in urgent trouble and requesting crypto or wire transfers.
👉 Always verify emergency requests through a second trusted channel, no matter how real the voice sounds.
2. The Voice Clone Con
Criminals create synthetic voice copies of executives, friends, or customer service reps to request sensitive information or validate fake investments.
👉 If you didn’t initiate it through an official channel, verify it before responding.
3. The Counterfeit Customer
Scammers use AI to simulate users during onboarding processes, uploading fake IDs, manipulating selfies, and bypassing weak verification systems.
👉 Only use platforms that employ dynamic and layered identity verification, like Coinbase’s KYC and biometric tools.
Stay skeptical of unexpected communications, even if they seem personalized. AI enables scammers to mimic familiarity.
Enable multi-factor authentication (MFA) across all platforms. Voice, fingerprint, or app-based authentication provides a critical second layer of defense.
Check for signs of deepfake content. Look for unusual eye movement, off-sync lips, or glitches in videos and video calls.
Be wary of emotional urgency. AI scams often appeal to panic or pressure to force immediate action. Take a moment, step back, and consult someone you trust.
Talk about AI scams with your family and colleagues. The more people understand these new threats, the harder it is for scammers to succeed.
In an era where a digital twin of you can be created in minutes, the stakes for identity verification have never been higher. But awareness, education, and updated security practices can help you stay ahead of these emerging threats.
At Coinbase, we’re doubling down on verification tools, from robust KYC to biometric checks, to help ensure the real you stays protected in an age of synthetics. Stay smart, stay secure, and talk to someone you trust before taking action.
Coinbase has closed our acquisition of Deribit, officially making Coinbase the most comprehensive global crypto derivatives platform. This follows a record month of volume and revenue for Deribit as international momentum around crypto options heats up.
