AI Deepfake Scams Target Crypto Holders on YouTube Using Fake CEO Videos

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AI-generated deepfake videos of Ripple CEO Brad Garlinghouse and former MicroStrategy CEO Michael Saylor have circulated on YouTube, urging viewers to send cryptocurrency with false promises of doubled returns. Despite user reports, YouTube has not removed the fraudulent content, enabling ongoing financial scams and harm to crypto holders.[AI generated]

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

The event explicitly mentions the use of AI-generated deepfake technology to create a fraudulent video that directly leads to financial harm by scamming XRP holders. The AI system's use in generating the deepfake video is central to the scam's operation and the resulting harm. Therefore, this qualifies as an AI Incident due to the direct harm caused by the AI system's misuse.[AI generated]
AI principles
AccountabilitySafetyTransparency & explainabilityRobustness & digital security
Industries
Media, social platforms, and marketingFinancial and insurance services
Affected stakeholders
Consumers
Harm types
Economic/PropertyReputational
Severity
AI incident
AI system task:
Content generation

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