Case sweden-deepfake-pump-dump-500m-sekDeepfake fraudSweden
Deepfake ads of Swedish finance figures lure 5,000 savers into pump-and-dump scams
Swedish media reported at least 5,000 small savers lost about 500M SEK (about $52M) in 2025 to pump-and-dump share scams promoted with deepfake ads of journalist Gabriel Mellqvist and investor Gunter Marder on Meta.
CriticalAttack using AIStatus: OngoingVerified case file
Open in the interactive mapCite this case
- Reported
- Oct 31, 2025
- Location
- Sweden
- Target
- Swedish retail investors
- Severity
- Critical
- Triggered by
- Unknown
- Actor type
- Criminal
- Reported loss
- $52M
- CVE
- None
What happened
Swedish media reported at least 5,000 small savers lost about 500M SEK (about $52M) in 2025 to pump-and-dump share scams promoted with deepfake ads of journalist Gabriel Mellqvist and investor Gunter Marder on Meta.
Impact: At least 5,000 investors and roughly 500M SEK in losses; reputational harm to impersonated journalists.
Who triggered it
Actor: Unknown
Attribution: Unknown; organised pump-and-dump operators using social media advertising.
Motive: Profit from inflating low-value shares before dumping them on lured retail buyers.
How it happened
Attack vector: AI-generated deepfake videos and fake profiles of trusted Swedish finance personalities in paid social media ads directing savers to stock tips and chat groups.
Root cause: Meta ad systems carried fabricated endorsements; impersonated figures reported great frustration at slow platform takedowns.
Timeline
- Deepfake investment adverts circulate on Meta platforms through 2025
- TV4 Nyheterna reports 5,000 Swedes defrauded
- Sveriges Radio reports losses of about half a billion kronor
Response
Impersonated figures publicly criticised Meta; no police action was reported in the coverage reviewed.
Current status: Ongoing
Sources (open in a new tab)
- Sveriges Radio sverigesradio.se
- TV4 tv4.se
- AI Incident Database incidentdatabase.ai
Cite this case
Deepfake ads of Swedish finance figures lure 5,000 savers into pump-and-dump scams. AI Threat Watch, case sweden-deepfake-pump-dump-500m-sek, Oct 31, 2025. https://aithreat.io/cases/sweden-deepfake-pump-dump-500m-sek/
Permanent link: https://aithreat.io/cases/sweden-deepfake-pump-dump-500m-sek/