Deepfake Video of FTX Founder Used in Crypto Scam Targeting Investors

Thumbnail Image

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

Scammers used AI-generated deepfake videos of FTX founder Sam Bankman-Fried to impersonate him on Twitter, directing victims to fraudulent websites with promises of crypto refunds or giveaways. The deepfakes exploited verified accounts to appear legitimate, aiming to steal cryptocurrency from investors affected by FTX's collapse.[AI generated]

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

The event explicitly mentions the use of a deepfake video, which is an AI system generating synthetic media. The video was used maliciously to scam users, directly causing harm through phishing and potential financial loss. Therefore, this qualifies as an AI Incident because the AI system's use directly led to harm to people (scam victims).[AI generated]
AI principles
Transparency & explainabilityRobustness & digital securitySafetyAccountabilityRespect of human rights
Industries
Financial and insurance servicesMedia, social platforms, and marketingDigital security
Affected stakeholders
Consumers
Harm types
Economic/PropertyReputationalPsychologicalPublic interest
Severity
AI incident
AI system task:
Content generation
In other databases
Open in  AIID Logo

Articles about this incident or hazard