The newest and fastest-growing threat in crypto scams is the use of artificial intelligence. In 2025, AI-enabled scams were 4.5 times more profitable than traditional scams. Scammers now use deepfake videos, AI voice clones and automated phishing at a scale never seen before. This article explains what these scams look like and the simple habits that keep you safe.
⚠️ Coinstash will never ask you to…
share your password, 2FA codes or recovery phrase, by phone, email, SMS or chat
move, send or transfer your crypto or AUD to another wallet, account or platform
log in through a link to "verify your account" or "confirm a withdrawal" you didn't make
contact us on WhatsApp, Telegram, Discord or social media DMs
A convincing voice, video or email doesn't make a request genuine. If it asks for any of the above, it's a scam.
AI and deepfake scams
Fake celebrity endorsements
Scammers create realistic deepfake videos of well-known figures (Elon Musk, local politicians, finance influencers) promoting fake crypto giveaways or investment platforms. These videos circulate on YouTube, Facebook, Instagram and TikTok. In 2025, multiple deepfake videos of Elon Musk promoting fraudulent crypto giveaways caused victims to lose thousands each.
AI voice cloning
Using just a few seconds of audio from a podcast, interview or social media video, scammers can clone someone's voice. They then call victims pretending to be a trusted person (a boss, family member or exchange representative) requesting urgent crypto transfers.
AI-powered chat scams
Scammers use AI chatbots to manage hundreds of conversations simultaneously across dating apps and messaging platforms. These bots are convincing enough to maintain weeks-long "relationships" before steering victims toward fake investment platforms. See Romance & Pig Butchering Scams.
Phishing and SMS scams
Fake emails
You receive an email that looks like it's from Coinstash (or another exchange) asking you to "verify your account", "confirm a withdrawal" or "update your security settings". The link leads to a fake login page that captures your credentials. Genuine Coinstash emails only come from @coinstash.com.au addresses, but sender names can be faked, so the safest habit is never to log in from an email link.
SMS phishing (smishing)
Text messages claiming to be from a toll service, bank or government agency ask you to click a link and pay a small amount in crypto. In 2025, the "Smishing Triad", a cybercriminal network, sent 330,000 fake toll collection texts in a single day, eventually stealing over $1 billion from victims across 121 countries.
Physical phishing letters
A new trend in 2026: scammers are sending official-looking physical mail impersonating hardware wallet companies like Ledger. The letters include QR codes that lead to malicious websites designed to steal your wallet recovery phrase.
Red flags
Celebrity crypto "giveaways". Real celebrities do not give away crypto. Ever.
Emails or SMS with slightly misspelled sender names or domains
Urgent messages asking you to click a link immediately
Unexpected calls from someone who knows your name asking about your crypto
QR codes in unsolicited physical mail
Video calls where the person's mouth doesn't quite sync with their words
How to protect yourself
Bookmark Coinstash's real URL (coinstash.com.au) and always access it directly, never through email or SMS links.
Enable 2FA on your Coinstash account and your email. See Securing Your Account with Two-Factor Authentication (2FA).
Be sceptical of ANY unsolicited contact about crypto: phone, email, SMS or social media.
Verify videos independently. Search for the person's official channels before trusting a video.
Never scan QR codes from unsolicited mail or messages.
Use a password manager to avoid entering credentials on fake sites (it won't autofill on a phishing domain).
Agree on a family "safe word" so you can check it's really them if you get an urgent call asking for money.
If in doubt, contact Coinstash Support directly through the in-app chat.
I clicked a link or entered my details. What now?
Don't enter anything else on that page and close it.
Open the Coinstash app or type coinstash.com.au yourself and change your password.
Check your 2FA is still set up. See How do I Troubleshoot 2FA Issues? if you have trouble.
Contact our team through the in-app chat straight away. If you reach us quickly, we may be able to place a hold on your account to prevent further transactions.
If you've lost money or shared your recovery phrase, follow the full guide: I think I've been scammed — what should I do?
The bottom line: if someone contacts you about crypto and creates urgency, assume it's a scam until proven otherwise. Take a breath, close the message, and verify through official channels.
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Need a hand? Our Brisbane-based support team is here to help — tap the chat icon in the app or on the website to get in touch.