Beware of AI-Generated Deepfake Scams: Michael Saylor Warns the Bitcoin Community 🚨

Numerous Reports from Last Week Highlighted Deepfake Videos of Michael Saylor Allegedly Promising to 'Double People's Money Instantly

Sujha Sundararajan Last updated: January 15, 2024 22:18 EST | 1 min read

Bitcoin community warned about increasing number of deepfake scams by Michael Saylor.

MicroStrategy founder and tech titan Michael Saylor has issued a warning about the influx of AI-generated deepfake scams in the Bitcoin community. 🤖💰

The alarm follows several reports last week flagging fake AI-generated videos of Saylor reportedly promising to “double people’s money instantly.” 📹 The fake ad prompted customers to scan a QR code to send Bitcoin (BTC) to the perpetrator’s address. 🚫📱

One user posted on X (formerly Twitter), that Michael Saylor’s deepfake video popped up on YouTube (again). 😱

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In response, Saylor wrote on Sunday, that “there is no risk-free way to double your Bitcoin.” 💔

“MicroStrategy doesn’t give away BTC to those who scan a barcode,” he stressed. 😤

“My team takes down about 80 fake AI-generated YouTube videos every day, but the scammers keep launching more. Don’t trust, verify.” – Michael Saylor

Saylor’s scam videos followed a suite of convincing-looking deepfake video trend in the recent past. In November 2023, fake videos of Ripple and its chief Brad Garlinhouse surfaced with fake XRP giveaways. Similarly, Cardano co-founder Charles Hoskinson fell victim to deepfake in December, which followed an immediate warning from him on the increasing sophistication of these fake videos. ⚠️

The rapidly evolving AI technology masks a grim reality — security and privacy concerns. A UCL report said that experts have ranked manipulated video/audio as the most worrying use of artificial intelligence in terms of its applications for crime. 🔒🔍

Matt Groh, a research assistant with the Affective Computing Group at the MIT Media Lab, said that people can defend themselves against falling victim to deepfakes by using their own intellect. “You have to be a little skeptical, you have to double-check and be thoughtful,” Groh said. 🧠💡

Q&A: Addressing Concerns about Deepfake Scams

Q: How can I protect myself from falling victim to deepfake scams?

A: The best defense against deepfakes is to be skeptical and to double-check the information presented to you. Don’t blindly trust videos or claims that seem too good to be true. Take the time to verify the authenticity of the content before taking any action.

Q: Are there any warning signs that might indicate a video is a deepfake?

A: While it can be challenging to spot deepfakes, there are some warning signs to look out for. Pay attention to inconsistencies in facial expressions, unnatural movements, or blurry edges around the subject’s face. If something seems off or unrealistic, it’s worth investigating further.

Q: What steps can platforms take to combat the spread of deepfake scams?

A: Platforms should invest in developing AI-powered tools that can detect and flag deepfake content. Additionally, they should encourage users to report suspicious videos and provide clear guidelines on how to identify and report deepfake scams.

The Future of Deepfake Scams

As AI technology continues to advance, so too will the sophistication of deepfake scams. It is crucial for individuals and businesses to stay vigilant and keep up-to-date with the latest techniques used by scammers. Ultimately, a combination of technological advancements, user education, and regulatory measures will be necessary to combat the threat posed by deepfake scams. 💪

References:

1. Bitcoin Adoption Soars: In-Person Vendors Accepting Bitcoin to Triple by 2023
2. XRP Price Prediction: As Bitcoin ETF Goes Live, Will XRP Get an ETF Next?
3. Matrixport Founder Says Dissemination of Bitcoin ETF Report is Beyond Control

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