South Korea's biggest exchange fights deepfake fraud wave - Cryptonews.net
South Korea's Bithumb exchange launched an anti-phishing campaign in response to rising deepfake scams targeting cryptocurrency investors.
- Incident date
- May 2026
- Target
- Cryptocurrency Investors
Bithumb, South Korea’s largest cryptocurrency exchange, issued an anti-phishing guide on May 14, 2026, warning users about AI-powered scams. The campaign, titled “Voice Phishing Complete Guide,” addresses the growing threat of deepfake and deepvoice fraud targeting digital asset holders.
What happened
Fraudsters are using AI to mimic the voices and faces of family members, exchange staff, or government officials during live calls. Scammers impersonate exchange customer support agents, bank employees, and even family members to pressure victims into installing remote access apps, sharing passwords, or transferring funds to unknown wallets. Bithumb is urging users to never share OTP codes or passwords, click on URLs from unverified sources, or send crypto to unknown wallet addresses. They also recommend enabling two-factor authentication and blocking logins from overseas IP addresses. A Bithumb spokesperson noted that AI financial crimes are becoming increasingly difficult to detect.