The rise of deepfakes—a form of synthetic media created using artificial intelligence—has sparked widespread concern due to its potential to manipulate reality with alarming accuracy. Deepfakes can convincingly swap faces, alter speech, and mimic individuals’ voices, making it increasingly difficult to distinguish between what’s real and what’s fabricated. While this technology has creative applications in film, gaming, and education, its darker implications are far more serious. Deepfakes have been used for misinformation, political propaganda, character assassination, and non-consensual pornography, raising severe ethical questions about consent, trust, and digital integrity. As deepfakes become more accessible, the risk of identity theft, cyberbullying, and election interference increases. Furthermore, their existence erodes public trust in legitimate media, making people more likely to doubt authentic content—a phenomenon known as the “liar’s dividend.” Combating this threat requires a multi-pronged approach: developing better detection tools, enforcing stricter laws, educating the public on media literacy, and holding creators and platforms accountable. Deepfakes exemplify the dual-edge of technology—capable of creativity and innovation but also deception and harm—and call for urgent ethical oversight to prevent misuse in an increasingly digital society.