On September 9, 2024, cybercriminals managed to overshadow Apple’s highly anticipated iPhone 16 launch by deploying an elaborate scam involving deepfake videos of CEO Tim Cook. This incident underscores the escalating danger of AI-fueled fraud, as hackers capitalize on high-profile events to deceive potential victims into cryptocurrency scams.

During Apple’s “Glowtime” event, which showcased the latest iPhone features, various platforms, including YouTube, were inundated with live streams featuring deepfake versions of Tim Cook. These streams, designed to appear legitimate, encouraged viewers to send cryptocurrencies such as Bitcoin, Ethereum, or Tether to a specified address with the promise of receiving double the amount in return.

The scammers cleverly manipulated existing footage of Cook, using advanced AI techniques to craft a highly convincing performance that duped hundreds of thousands of viewers. One particularly successful stream garnered over 355,000 views, with the fraudsters going as far as to create a channel that closely mimicked Apple’s official branding.

To further legitimize their deceit, the videos included a QR code directing users where to scan and send their money. Posing as Cook, the impostors assured viewers that their investments would yield immediate returns, stating, “Once you complete your deposit, the system will automatically process it and send back double the amount of the cryptocurrency you deposited.”

YouTube acted swiftly to remove the fraudulent streams and delete the associated accounts, but by then, significant damage had already been inflicted. In the aftermath, social media platforms like X were flooded with individuals sharing their experiences and warning others about the scam. Many expressed outrage at how easily the con artists had impersonated a respected figure like Tim Cook, highlighting the urgent need for heightened vigilance in our digital age.

This incident is not an isolated case. The advent of deepfake technology has made it increasingly straightforward for scammers to convincingly impersonate well-known personalities. A similar scheme using deepfake footage of Elon Musk circulated during the launch of SpaceX’s Starship rocket just a few months prior.

As cryptocurrency fraud becomes more rampant, it’s crucial for individuals to exercise caution. The allure of quick profits can cloud judgment and increase susceptibility to scams. It’s essential to verify the authenticity of any offers, especially those that seem too good to be true.