YouTube recently faced a troubling wave of crypto scams featuring deepfakes of Apple CEO, Tim Cook.
These coincided with Apple’s highly anticipated iPhone 16 launch, drawing attention due to the event’s widespread visibility.
On 9 September, Apple’s “Glowtime” event, where the company introduced its iPhone 16 models, was hijacked by scammers using fake livestreams. These streams featured an artificial intelligence (AI)-generated version of Cook.
The fake Cook appeared on YouTube livestreams, asking viewers to send various cryptocurrencies, including Bitcoin, Ethereum, Tether, or Dogecoin, to a specific address. In return, he promised to send back double the amount.
In one of the livestreams, widely shared on the social media platform X, the deepfake Cook falsely stated: “Once you complete your deposit, the system will automatically process it and send back double the amount of the cryptocurrency you deposited”.
This type of scheme is a common “double-your-money” scam that has been around in the cryptocurrency world for a while.
Scammers promise large returns on cryptocurrency deposits but never follow through. Instead, they keep the money and leave victims with nothing.
These fraudulent livestreams took place at the same time as Apple’s official product launch, which likely made them seem more credible to viewers.
Scammers cleverly used the buzz surrounding the iPhone 16 launch to make their scheme more convincing.
YouTube acts swiftly
One of the scam streams was posted on a YouTube channel named “Apple US”. To make it appear authentic, the scammers even added a verification tick, similar to what legitimate accounts have.
Screenshots and videos shared on social media show that some of these streams attracted hundreds of thousands of views. However, it’s suspected that many of these views came from bots rather than real users.
Bots are often used by scammers to inflate view counts, making the stream seem more popular and trustworthy.
YouTube was alerted to the issue after several users reported the fake livestreams. In response, YouTube’s support team took to X, asking viewers to report any suspicious videos.
YouTube has since taken down the scam streams, and the accounts behind them have been deactivated.
Despite these actions, YouTube has not yet provided an official statement on how the scams were able to bypass their platform’s security measures or what additional steps will be taken to prevent similar incidents in the future.
The rise of deepfake scams
This incident highlighted a growing problem in the online world: scammers using deepfake technology to impersonate well-known figures.
High-profile individuals and significant events have become prime targets for these scams, as criminals exploit their fame to trick unsuspecting users.
In recent months, there have been other high-profile examples of deepfake scams. In June, scammers hijacked the YouTube news channel of Australia’s Seven Network. They used it to broadcast fake videos of Elon Musk talking about cryptocurrency.
Similar deepfake videos of Musk surfaced again around the same time as SpaceX’s Starship rocket launch, with scammers attempting to lure users into another “double-your-money” crypto scheme.
Concerns about AI-generated content have been growing in recent years. With advancements in AI technology, it is becoming easier for scammers to create highly convincing deepfake videos.
In fact, the World Economic Forum’s 2024 “Global Risks Report” has warned of rising threats linked to AI technologies.
The report specifically highlights the potential misuse of AI for fraudulent activities, such as deepfake scams, and stresses the need for better safeguards against these growing dangers.
Experts warn that platforms like YouTube need to invest in better detection tools to prevent these scams from reaching large audiences.
The frequency of these attacks is only expected to increase, especially as more high-profile events and individuals become targeted by fraudsters seeking to exploit their reputations for financial gain.
