Australian Mining Magnate Featured in Deepfake Crypto Scam Video
A deepfake video of Australian mining magnate Andrew “Twiggy” Forrest has been circulating on Facebook, promoting a fraudulent crypto trading platform. The video, altered from a real fireside chat hosted by the Rhodes Trust, encourages viewers to join the scam platform called “Quantum AI.” Cybersecurity firm Cybertrace has flagged the video and identified it as a deepfake. Despite Meta’s ban on deepfakes, these manipulated clips continue to deceive unsuspecting users on social media platforms. This is not the first time Forrest’s image has been exploited for a crypto scam, and he has pending criminal charges against Facebook for another fraudulent ad.
Rise of Deepfake Scammers
MicroStrategy founder Michael Saylor revealed that his team deals with around 80 counterfeit videos daily, many of which endorse Bitcoin scams. Deepfake videos featuring well-known figures like Elon Musk have also surfaced on various social media platforms. These videos often contain links to unauthorized products or investment schemes that disappear after a few days. Deepfake videos generated using artificial intelligence (AI) are becoming a major security threat worldwide. Data from Sumsub shows a significant increase in the proportion of deepfakes in North America, while instances of printed forgeries have decreased.
Hot Take: The Growing Threat of Deepfakes
The proliferation of deepfake videos poses a serious threat to online trust and security. With scammers exploiting the images and voices of influential individuals, it becomes increasingly difficult to discern between genuine content and manipulations. Social media platforms like Facebook must take stronger measures to combat deepfakes and protect their users from falling victim to scams. Additionally, businesses and individuals should prioritize upgrading their verification systems to detect and prevent the spread of deepfake content. As technology evolves, staying vigilant and proactive against deepfake deception is crucial to maintaining a safe online environment.
By
By
By
By