Late last week, a cryptocurrency scheme briefly hijacked the verified X (formerly Twitter) account of former prime minister, Raila Odinga, underscoring the growing role of generative artificial intelligence in financial fraud across Africa.

Odinga appeared to say in the post: “We are pleased to announce that the [Kenya] token will soon launch. Kenya is stepping up to lead Africa into the crypto revolution, embracing digital finance and shaping a more crypto-friendly future.”

Evidence quickly suggested the video was fabricated and the message unauthorized before it was deleted.

However, the fleeting promotion was enough to spark confusion and interest in the coin. The episode illustrates how deepfake tools and account compromises are increasingly deployed to lend credibility to fraudulent projects.

A Telegram group for the token has already attracted more than 1,600 members, despite the token lacking a contract address, transaction history, or a public roadmap. Critics note the project appeared only days before the Odinga post, raising suspicions it was assembled to exploit his stature as an influential politician and lure the country’s active crypto community.

Kenya has already seen another controversy this year around a token called Kenya Digital Token ($KDT) that was launched in July. The token billed itself as a community-driven civic initiative but quickly drew criticism for its lack of transparency.

Blockchain data shows one wallet controls 60% of its supply, a concentration that leaves it exposed to a “rug pull” scenario where insiders could cash out at the expense of retail buyers.

On Facebook, a deepfake scam circulated on the same day showing an NTV news anchor announcing a fraudulent M-Pesa project that endorsed. The video exploited Safaricom CEO Peter Ndegwa’s likeness and voice, asking Kenyans to send money to receive more money.

Earlier this year, a similar scheme in Tanzania saw billionaire Mohammed Dewji’s account used to market a fake digital token, raising nearly US$1.5 million before being exposed. Across Africa, such incidents are multiplying as AI tools make it easier to produce convincing synthetic media and impersonations.

Data from identity-verification companies show that deepfake-related fraud attempts have surged in the past year, with biometric fraud overtaking document forgery as the most common tactic. Free and low-cost AI software has lowered the barriers, enabling scammers to manufacture high-quality fake videos, voices, and documents at scale.

Financial institutions, e-commerce platforms, and crypto projects are now the prime targets, with digital banks especially vulnerable due to lighter verification requirements.

Meanwhile as crypto scams surge, parliament is scheduled to debate the Virtual Asset Service Providers Bill this month. The bill is intended to strengthen regulations in the sector by pinning the licensing of tokens to financial bodies.