TechFlow news, September 4 — According to Cointelegraph, security software company Gen Digital (parent company of Norton, Avast, and Avira antivirus) reported in its Q2 2024 findings a significant rise in cryptocurrency scams leveraging AI-powered deepfake videos.
The report highlights a fraud group named "CryptoCore" that uses AI deepfake technology to carry out cryptocurrency scams. The group manipulates official videos of well-known figures such as Elon Musk, Michael Saylor, Vitalik Buterin, and Larry Fink—replacing original audio with AI-generated voices or mixing unofficial content with authentic clips to execute their scams.
Gen Digital noted that these criminal groups primarily distribute their videos across social media platforms including YouTube, X (formerly Twitter), and TikTok. Scammers also hijack high-following social media accounts to livestream and promote their fraudulent schemes. Siggi Stefnisson, security expert at Gen Digital, warned users that scammers are adept at exploiting trending topics relevant to their target audiences—including love, financial security, and elections—to design convincing scams.
