Apple CEO Tim Cook’s Deepfake Crypto Scam Hit People During iPhone 16 Launch

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As a seasoned crypto investor with a decade of experience under my belt, I must say that the recent iPhone 16 launch has been quite an eventful one, to say the least. The incorporation of AI technology into Apple’s latest offering is indeed impressive, but it’s the dark side of AI that has left me with a sour taste.

On September 9, tech titan Apple unveiled its latest iPhone series, making this launch particularly momentous. In light of the buzz surrounding Artificial Intelligence (AI), Apple has integrated AI technology into the iPhone 16 lineup. Boasting improved camera quality, a larger display, new color options, and an external camera button accessory, the iPhone16 has sparked quite a conversation. Nevertheless, the spotlight was stolen by cybercriminals who orchestrated major cryptocurrency scams using a deepfake AI video of Apple CEO Tim Cook to deceive people into a get-rich-quick scheme.

Beware of fraudsters: There’s no truth to the rumor of Tim Cook live-streaming a request for Bitcoin, Ethereum, or USDT. Such offers are fake and do not exist.

— Tokenpaddock (@tokenpaddock) September 10, 2024

Scammers Hit The iPhone 16 Launch With Deepfake Tim Cook

On September 9, the Apple team is hosting a livestream for the Glowtime event to unveil the latest iPhone 16 models and their features to the public. Unfortunately, some crypto scammers exploited this opportunity by broadcasting fake live streams featuring an AI-generated video of Apple CEO Tim Cook, aiming to mislead the audience.

A fraudster took excerpts from previous interviews of Tim Cook and manipulated them using deepfake technology. The altered videos were then used to entice people into getting involved in cryptocurrency ventures. What’s more concerning, these individuals were deceived into participating in a type of crypto scam known as “double-your-money” schemes. In these scams, users are persuaded to transfer twice the amount they initially sent to the scammer. Regrettably, once the transaction is processed, the user ends up with nothing.

Upon making your deposit, the system autonomously processes it, and subsequently, it’s designed to return an equivalent double amount of the cryptocurrency you initially deposited, as per my explanation.

Over 355,000 individuals tuned into a single live stream, which appeared to be authentic due to the scammers’ clever imitation of Apple’s YouTube channel. Remarkably, numerous other live streams also surfaced on YouTube that very day, many from channels not associated with technology. It’s worth noting that these deceptive live streams were not limited to tech-related channels.

The swindler has also inserted QR codes within the videos for individuals to scan and transfer cryptocurrencies. These fraudsters demanded various digital currencies such as Bitcoin, Ethereum, Tether, and Dogecoin, into specific crypto wallets provided. Additionally, they have displayed false transaction interfaces, tricking people into believing that other senders had already received double their initial investments.

Even though the live streams have been removed from the platform, it appears that the incident involving the X platform has gained attention among users, shedding light on a unfortunate event. Some users spread word about the alleged hack at Apple, while others unfortunately fell victim to it.

Not The Fist Deepfake To Livestream Crypto Scam

As an analyst, I’ve observed that while artificial intelligence was primarily designed to assist us, it has unfortunately become a tool for escalating frauds and scams in various markets. Not long ago, the World Economic Forum disclosed this alarming trend in their Global Risks Report, highlighting the significant rise of AI-driven deceitful practices.

One prime example is Apple CEO Tim Cook’s Deepfake scam, viewed by $500K users before YouTube could shut it off. But there are hundreds more like this, with many new frauds entering the market every day. The most popular ones are Pig-Butchering scams, rug pull, double your money, wallet address hacks, and much more. Interestingly, social media platforms like YouTube have become the main target. One Pig butchering scam has led to the former Kansas bank CEO in prison for 24 years. Other than this, celebrities like DOJA CAT X’s account got hacked and many others were also the victim of the same to promote some rug pull scam.

Furthermore, there’s been an uptick in deepfake deceptions involving prominent figures such as Elon Musk, the CEO of Tesla, whose videos have been around for quite some time. The Canadian Prime Minister Justin Trudeau and numerous others have also fallen victim to deepfakes, with one individual losing $12K and another South Korean woman parting with 40,000 Euros. This has made the issue of deepfakes a matter of significant concern.

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2024-09-10 14:44