• Scammers used AI deepfakes of Tim Cook to trick viewers into transferring cryptocurrency.
• Although YouTube removed the videos, the incident illustrates growing concerns about deepfake scams.

During the highly anticipated iPhone 16 launch, crypto scammers used a deepfake of Apple CEO Tim Cook to carry out a complex fraud scheme. The scammers posted phony livestreams on YouTube, posing as official Apple promotions and offering false cryptocurrency giveaways. These deepfake films portrayed Cook praising the giveaways, giving the fraud a ring of legitimacy.

The bogus streams took advantage of the iPhone 16 launch’s large viewership, duping users into believing they might receive free cryptocurrencies by sending their digital assets to a predetermined wallet address. Despite YouTube’s efforts to tackle the problem, deepfake videos spread rapidly before being banned.

Increasing Use of Deepfakes for Scams

This event highlights a concerning trend criminals are more frequently using deepfake technology to defraud the public. Previously, deepfakes of well-known personalities such as Elon Musk were utilized in YouTube scams, including one involving SpaceX’s Starship rocket launch. These scams often use convincing deepfake videos to induce viewers to deposit cryptocurrencies into fraudulent schemes.

The increasing sophistication of such scams highlights the critical necessity for caution. Apple and YouTube quickly issued cautions to their users, cautioning them to be wary of potential frauds and verifying the legitimacy of any promotions or prizes. Unfortunately, numerous consumers had already been victimized by the time the bogus streams were withdrawn.

Some of the fraudulent streams came from non-tech sources, while others used Apple branding to appear more credible. YouTube removed the videos when viewers reported them, and a YouTube support team acknowledged the problem. However, the website associated with the fraud was still active at the time of writing.

The World Economic Forum’s 2024 “Global Risks Report” highlighted the growing concerns linked with AI-generated content. As technology advances, scammers adopt more convincing strategies, thus it is critical for users to stay aware and cautious of offers that appear too good to be true.

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