Deepfake technology is being used more and more in bitcoin scams, and Singapore’s Prime Minister Lee Hsien Loong has taken a stand against this.
Loong recently warned his social media followers about scams that use his voice and picture in deceptive ways. He did this to stress how important it is to be careful when dealing with sophisticated fraud created by AI.
Loong sent out alerts on December 28 on X (formerly Twitter), LinkedIn, and Facebook, among other social media sites. He told his viewers not to respond to scammers who make deepfake videos. These fake videos make it look like he’s supporting high-yield investments and free cryptocurrency. He used a video of what looked like an interview with him to make his point. However, it turned out to be a fake piece made by con artists to push a fake method of “hands-free crypto trading.”
Loong talked about how deepfake technology is becoming a bigger problem because it can be used to spread false information and run scams. He stressed how important it is for people to know about these kinds of scams and take steps to protect themselves and their loved ones from them.
Digital con artists have often gone after the Prime Minister of Singapore, even before advanced AI tools became common. In 2021, Loong warned people in Singapore about the dangers of bitcoin platforms. He said that someone had made a fake profile on BitClout, a site for social media tokens, so they could sell tokens under his name using fake social media accounts.
Also, after the 2022 FTX crash, lawmakers asked Loong and Deputy Prime Minister Lawrence Wong about this problem.
Using well-known people in crypto-related scams without permission is not a new thing. In 2020, hackers reportedly broke into the Twitter accounts of several famous people, including former US President Barack Obama and Vice President-elect Joe Biden. They did this to run a Bitcoin scam. This event shows how digital fraud is always changing. Scammers are always getting smarter and using new methods to trick and control users.
The latest warning from Prime Minister Lee Hsien Loong is a good reminder of how sophisticated online scams are getting, especially those that use deepfake technology.
It urges people to be more aware of and think carefully about what they read online, especially when it comes to investments and deals involving the unstable world of cryptocurrencies.
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