Blockchain security analysts CertiK disclosed a deepfake video featuring Vitalik Buterin promoting a wallet drainer phishing site.
This isn’t the first instance cybercriminals have exploited the Ethereum co-founder’s influence to advance their fraudulent schemes. In September, a notable campaign became viral with a deepfake of Buterin endorsing a new meme token, which was a scam.
Deepfakes are sophisticated digital forgeries that leverage AI to create fake videos or audio recordings of famous individuals to create fake promotions or spread misinformation. There has been a slow yet disturbing rise of such campaigns in crypto.
Earlier this year, hackers reportedly took over several YouTube channels to broadcast deepfake videos of Michael Saylor, the former CEO of MicroStrategy, promoting fake Bitcoin giveaways.
Another instance involved a deepfake impersonation of the former FTX founder, Sam Bankman-Fried, offering false compensations to users following FTX’s bankruptcy. A deepfake video featuring Australian businessman Andrew Forrest was also circulated, fraudulently promoting a crypto trading software promising unrealistic profits.
The growing risks of these deepfakes underscores the evolving sophistication of cyber threats in the crypto space. It highlights the need for increased vigilance among users and investors to detect and prevent such fraudulent activities.