The cryptocurrency sector is grappling with a new security threat as deepfake fraud becomes increasingly prevalent. Leveraging generative AI, attackers are creating highly realistic fake identities, including influencer livestreams and AI-generated video IDs, which are successfully bypassing standard verification processes. Experts highlight that current defenses are inadequate against these sophisticated, multi-modal tactics. The proliferation of consumer-grade tools has made it easier for fraudsters to produce convincing fakes, posing a significant challenge to the industry. To combat this, experts advocate for the adoption of behavioral and contextual signals over traditional visual checks. While regulatory measures like the GENIUS Act are being introduced, platforms are urged to implement continuous, multi-layered verification systems to restore trust and security in the crypto space.