Gen Digital: Surge in Cryptocurrency Scams Using AI-Powered Deep Fake Videos

A Q2 2024 report released by security software firm Gen Digital shows a significant increase in cryptocurrency scams using deeply faked videos powered by artificial intelligence.Gen Digital notes that these criminal organizations primarily distribute their videos on social media platforms such as YouTube, X, and TikTok. Scammers also use hacked, highly-followed social media accounts to broadcast live to promote their scam schemes.Gen Digital security expert Siggi Stefnisson warned users that scammers are adept at designing scam schemes that capitalize on topics of current interest to their target groups, including love, financial security and elections. (Cointelegraph )