Deepfake Voice Phishing Scams Target Crypto Execs, Resulting in Over $20M Losses

Cybercriminals are leveraging professional voice impersonators and advanced AI tools to execute sophisticated voice phishing ("vishing") attacks targeting U.S. cryptocurrency executives. Fraudsters pose as trusted authorities—from government agencies to corporate colleagues—to extract sensitive information or direct payments under false pretenses.

The Federal Trade Commission warns these scams often begin with urgent requests: fake warranty renewals, fabricated tech support alerts, or threats of legal action. Attackers increasingly use personal data like partial Social Security numbers to enhance credibility.

Losses exceed $20 million as scammers refine their tactics. One prevalent method involves impersonating company leadership during fabricated emergencies to obtain financial system credentials. "They may tell you that you owe money and must pay immediately or risk fines or arrest," the FTC notes in its advisory.