YouTube is flooded with deepfake videos of Tim Cook promoting crypto fraud

Opportunistic crypto scammers took advantage of the hype surrounding Apple’s “Glowtime” iPhone 16 event on September 9 to target potential victims via the Google-owned video streaming app YouTube. Several users posted screenshots of multiple scam videos, which showed Cook promoting crypto giveaways, advertising investment schemes, and instigating crypto trades via on-screen QR codes. The Apple executive’s custom-made video also echoed his voice as he solicited donations in the form of Bitcoin, Ether, and Tether from a website that mimicked Apple’s original site.

Screenshots shared on social media by people on YouTube reveal that hackers posted some of these deepfake videos to grab the attention of real Apple fans who were searching the internet to stream the launch of the flagship iPhone 16 models.

These videos, which are now unavailable, have managed to garner thousands of views, according to a report by CoinTelegraph.

Those who reported these deepfakes on X raised serious concerns about the increasing misuse of advanced technologies such as artificial intelligence (AI). YouTube has also been criticized for its failure to effectively filter such scam content, which can cause significant financial harm to users.

YouTube has not released a separate statement on the situation, but did respond to one of these videos.

“@AaditDoshi we really appreciate you bringing this to our attention. If you haven’t already, would you mind reporting the video in the official reporting tool?” the verified handle of @TeamYouTube said.

This incident is not the first time that crypto scammers have created deepfake videos of influential people to bring their scams to the attention of innocent, unsuspecting people.

In June of this year, AI-generated deepfake videos of Elon Musk were published on a hacked Australian news channel, enticing people to participate in a crypto giveaway.

Due to the volatile nature of crypto assets and the difficulty of tracing transactions, hackers and scammers are increasingly flocking to the crypto market to exploit investors. Global law enforcement agencies, including the FBI, have warned that crypto scammers are becoming increasingly adept at using sophisticated techniques to carry out their crimes.

This week, the FBI revealed that members of the crypto community lost more than $5.6 billion (approximately Rs. 47,029 crore) to cryptocurrency fraud last year, a 45 percent increase from 2022.

In May, Microsoft President Brad Smith also said his biggest concern around AI was deep fakes, realistic-looking but fake content. Smith called for licensing the most critical forms of AI with “obligations to protect security, physical security, cybersecurity and national security.”