Binance Executive Deepfaked in Crypto Listing Scam

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The information displayed in the AIM should not be reported as representing the official views of the OECD or of its member countries.

Hackers used AI-generated deepfake technology to impersonate Binance's chief communications officer, Patrick Hillmann, in video calls and online meetings. The deepfakes, created from his public appearances, deceived crypto project teams into believing he could help list their tokens, resulting in fraudulent interactions and potential financial harm.[AI generated]

Why's our monitor labelling this an incident or hazard?

The article explicitly mentions the use of a sophisticated deepfake AI system to impersonate a person and conduct fraudulent meetings that resulted in monetary theft. This constitutes direct harm to property (financial loss) caused by the use of an AI system. Therefore, this qualifies as an AI Incident under the framework, as the AI system's use directly led to harm.[AI generated]
AI principles
AccountabilityRobustness & digital securityTransparency & explainabilityPrivacy & data governanceRespect of human rightsSafety

Industries
Financial and insurance servicesMedia, social platforms, and marketingDigital security

Affected stakeholders
Business

Harm types
Economic/PropertyReputationalHuman or fundamental rightsPsychological

Severity
AI incident

AI system task:
Content generation


Articles about this incident or hazard

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Scammers Deepfake Crypto Exec to Steal Money From People

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Futurism
Why's our monitor labelling this an incident or hazard?
The article explicitly mentions the use of a sophisticated deepfake AI system to impersonate a person and conduct fraudulent meetings that resulted in monetary theft. This constitutes direct harm to property (financial loss) caused by the use of an AI system. Therefore, this qualifies as an AI Incident under the framework, as the AI system's use directly led to harm.
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Hackers reportedly deepfaked a Binance exec to carry out listing scams | Engadget

2022-08-23
engadget
Why's our monitor labelling this an incident or hazard?
The event explicitly describes the use of AI deepfake technology to create a realistic fake image and video of a Binance executive, which was then used to deceive and scam people. This constitutes the use of an AI system (deepfake generation) leading directly to harm (financial scams). Therefore, it meets the criteria for an AI Incident as the AI system's use directly led to harm to property (financial loss) and communities (crypto community trust).
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Hackers Use Deepfakes of Binance Exec to Scam Multiple Crypto Projects

2022-08-23
Gizmodo
Why's our monitor labelling this an incident or hazard?
The event explicitly involves the use of AI systems (deepfake technology) to create realistic fake videos of a Binance executive. The malicious use of this AI system directly led to scams and financial losses for multiple crypto projects, constituting harm to property and communities. Therefore, this qualifies as an AI Incident because the AI system's use directly caused harm through fraudulent impersonation and financial scams.
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Hackers used deepfakes of Binance officer to scam crypto executives

2022-08-24
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Why's our monitor labelling this an incident or hazard?
The use of deepfake technology, which involves AI systems generating realistic fake videos, directly led to a scam targeting business partners, causing financial harm. The AI system's use in impersonation and deception constitutes an AI Incident because the AI system's use directly caused harm to individuals (crypto executives) through fraudulent interactions.
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Are these guys for real? How to keep your business safe from deepfakes

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The Guardian
Why's our monitor labelling this an incident or hazard?
The article explicitly mentions deepfake technology, an AI system that generates synthetic video and audio content. It reports actual incidents where deepfakes were used to deceive employees into transferring funds to criminals, resulting in direct financial harm. This meets the criteria for an AI Incident because the AI system's use directly led to harm (financial loss) to persons and organizations. The article also discusses the broader security risks and responses but the primary focus is on realized harm from AI misuse.
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Hackers are making deepfakes to scam crypto community, says Binance executive

2022-08-24
The Indian Express
Why's our monitor labelling this an incident or hazard?
The event explicitly involves AI systems in the form of deepfake technology used by hackers to create realistic fake videos of a Binance executive. This malicious use of AI has directly led to scams targeting crypto executives, which constitutes harm to property and communities. Therefore, this qualifies as an AI Incident because the AI system's use has directly caused harm through fraudulent impersonation and scamming.
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Binance executive claims scammers made a deepfake of him

2022-08-23
The Verge
Why's our monitor labelling this an incident or hazard?
The event involves an AI system (deepfake technology) used maliciously to impersonate a person, which could lead to harm such as fraud or market manipulation. However, the article only reports a claim without confirmed evidence of actual harm or scam success. Therefore, the event represents a plausible risk of harm from AI misuse but does not document a realized incident. This fits the definition of an AI Hazard, as the development and use of deepfake AI could plausibly lead to an AI Incident involving scams or fraud, but no direct or indirect harm has been confirmed yet.
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Fraudsters Created a Deepfake of Binance Executive to Dupe Crypto Developers

2022-08-23
PCMag Australia
Why's our monitor labelling this an incident or hazard?
The event involves the use of an AI system (real-time deepfake generation) to impersonate a person and deceive others, leading to financial harm (fraud) to cryptocurrency developers. The harm is realized and directly linked to the AI system's use. Therefore, this qualifies as an AI Incident due to the direct harm caused by the malicious use of AI technology.
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Scammers created a deepfake of top Binance exec to steal crypto funds

2022-08-24
TechRadar
Why's our monitor labelling this an incident or hazard?
The use of AI-powered deepfake technology to impersonate a Binance executive directly led to financial harm (theft of crypto funds) from victims. This constitutes an AI Incident because the AI system's malicious use caused realized harm to people (financial loss) through deception. The event involves the use and misuse of an AI system (deepfake generation) leading to harm, fitting the definition of an AI Incident.
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Deepfake Technology 2022: How to Protect Your Business From Deepfake Attacks

2022-08-21
Tech Times
Why's our monitor labelling this an incident or hazard?
The article explicitly discusses the use of AI-based deepfake technology in malicious attacks that have already caused financial harm to businesses. The involvement of AI systems (deepfake generation) is clear, and the harm (fraudulent financial loss) has occurred. The article also mentions warnings from authorities like the FBI and provides mitigation advice, but the primary focus is on the realized harm caused by AI misuse. Hence, it meets the criteria for an AI Incident rather than a hazard or complementary information.
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Binance exec says scammers made a deep fake hologram of him

2022-08-23
TheRegister.com
Why's our monitor labelling this an incident or hazard?
The event involves the use of an AI system (deep fake technology) to create a malicious AI clone of a Binance executive. This AI-generated content was used in fraudulent Zoom calls to scam cryptocurrency projects, which constitutes harm to communities and property (financial loss). The harm has already occurred as victims were deceived and potentially defrauded. Therefore, this qualifies as an AI Incident because the AI system's use directly led to realized harm through scams.
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Hackers Used Deepfake Of Binance Exec In Zoom Scam - Law360

2022-08-24
law360.com
Why's our monitor labelling this an incident or hazard?
The event involves the use of a deepfake, which is an AI system generating realistic fake video content. The deepfake was used maliciously to deceive individuals, resulting in a scam, which constitutes harm to people (financial harm). Therefore, the AI system's use directly led to harm, qualifying this as an AI Incident.
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Scammers accused of using deepfakes to dupe cryptocurrency projects | Newshub

2022-08-24
Newshub
Why's our monitor labelling this an incident or hazard?
The article explicitly mentions the use of deepfake AI technology to create a realistic impersonation of a Binance executive, which fooled several intelligent community members. This impersonation was used in scams targeting cryptocurrency projects, which implies realized harm through deception and potential financial loss. Therefore, this qualifies as an AI Incident because the AI system's use directly led to harm (scams and theft) in the cryptocurrency community.
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Scammers create 'Deepfake' of Binance executive, meet his contacts

2022-08-24
Social News XYZ
Why's our monitor labelling this an incident or hazard?
The event explicitly involves the use of an AI system (deepfake technology) to create realistic forged videos of a Binance executive. The use of these deepfakes directly led to scammers deceiving people, which constitutes harm to communities (crypto community members) through fraud and misinformation. Therefore, this qualifies as an AI Incident because the AI system's use directly led to harm.
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Hackers Use Deepfakes of Binance Exec to Scam Multiple Crypto Projects

2022-08-23
Gizmodo AU
Why's our monitor labelling this an incident or hazard?
The event explicitly involves the use of AI systems (deepfake technology) to create realistic fake videos of a Binance executive. This AI-generated content was used maliciously to scam crypto projects, resulting in direct financial harm to those projects. Therefore, the AI system's use directly led to harm, fulfilling the criteria for an AI Incident.
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Binance manager claims his deepfake is being used to cheat - Research Snipers

2022-08-24
Research Snipers
Why's our monitor labelling this an incident or hazard?
The article involves an AI system concept (deepfake) used in a social engineering context, which could lead to identity fraud and harm. However, the Binance manager's claim is not substantiated with evidence beyond a chat screenshot, and the article itself expresses skepticism about the occurrence. Since no confirmed harm or incident is documented, but the potential for harm exists, this event fits best as an AI Hazard rather than an AI Incident. It highlights a plausible risk of AI misuse without confirmed realized harm.
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Hackers reportedly deepfaked a Binance exec to carry out listing scams (Kris Holt/Engadget)

2022-08-23
Tech Investor News
Why's our monitor labelling this an incident or hazard?
The hackers used AI-generated deepfake technology to create a realistic impersonation of a Binance executive, which was then used to scam people. This is a direct use of an AI system leading to harm through deception and fraud. The harm is realized, not just potential, as victims were duped into believing false claims about token listings. Therefore, this qualifies as an AI Incident due to the direct harm caused by the AI system's misuse.
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Hackers targeting crypto executives at Binance using deepfakes

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Why's our monitor labelling this an incident or hazard?
The article explicitly mentions the use of AI systems (deepfake technology based on generative adversarial networks) to create realistic fake videos and voices of Binance executives. These deepfakes have been used maliciously by hackers to impersonate employees and deceive others, which constitutes a direct harm to the community and individuals targeted. This fits the definition of an AI Incident because the AI system's use has directly led to harm through scams and misinformation affecting people and communities.
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Scammers create 'Deepfake' of Binance executive, meet his -

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Forever NEWS
Why's our monitor labelling this an incident or hazard?
The event explicitly involves the use of AI-generated deepfake technology to create convincing fake videos of a Binance executive. The scammers used these AI-generated videos to deceive people, leading to harm through fraudulent interactions and potential security risks. The harm is realized, not just potential, as community members were tricked into meetings under false pretenses. This fits the definition of an AI Incident because the AI system's use directly led to harm to communities and possibly breaches of trust and rights. Hence, the classification is AI Incident.
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Binance: suplantan la identidad de un directivo creando un deepfake para estafar a los usuarios

2022-08-24
infobae
Why's our monitor labelling this an incident or hazard?
The event explicitly involves the use of an AI system (deepfake technology) to impersonate a person and commit fraud, which has directly led to harm by deceiving victims and causing financial loss. The harm is realized, not just potential, as victims were tricked into believing the deepfake was genuine. Therefore, this qualifies as an AI Incident due to the direct involvement of AI in causing harm through malicious use.
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DeepFake: qué es y cómo se usó para robar la identidad del directivo de una importante plataforma de criptomonedas

2022-08-24
El Comercio Perú
Why's our monitor labelling this an incident or hazard?
The article explicitly mentions the use of deepfake technology, which is an AI system capable of generating realistic fake videos and audio to impersonate real people. The harm caused includes identity theft and fraud attempts targeting Binance users and partners, which can lead to financial loss and damage to trust in the platform. The AI system's use was central to the incident, as it enabled the attackers to convincingly impersonate the executive. Therefore, this event meets the criteria for an AI Incident due to realized harm caused by the AI system's use.
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Un directivo de Binance asegura que han creado un 'deepfake' de él...

2022-08-24
europa press
Why's our monitor labelling this an incident or hazard?
The event explicitly involves AI systems (deepfake technology) used maliciously to create realistic fake videos of a Binance executive, which were then used to scam others. This constitutes direct harm through fraud and identity theft, which falls under harm to communities and individuals. Therefore, this qualifies as an AI Incident because the AI system's use directly led to realized harm through scams and impersonation.
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Un directivo de Binance asegura que hackers crearon un 'deepfake' suyo para realizar estafas

2022-08-23
Hipertextual
Why's our monitor labelling this an incident or hazard?
The event explicitly involves an AI system (deepfake technology) used maliciously to impersonate a person and conduct scams, leading to financial harm. The deepfake was used in videoconferences to deceive victims into paying money, which constitutes realized harm. This fits the definition of an AI Incident because the AI system's use directly led to harm (fraud and financial loss). The lack of detailed evidence does not negate the classification since the harm is described as occurring and the AI system's role is pivotal.