MicroStrategy executive chairman Michael Saylor is actively combating the proliferation of deepfake videos featuring him, with his team working to remove approximately 80 AI-generated fake videos daily. These deceptive videos often promote fraudulent Bitcoin schemes promising to double one’s cryptocurrency holdings.
Taking to X (formerly Twitter) on January 13, Saylor, with a following of 3.2 million, alerted his audience to the prevalence of deepfake videos on YouTube, cautioning against falling victim to scams. He emphasized that no risk-free method exists to double Bitcoin, and MicroStrategy does not distribute BTC through barcode scanning.
Michael Saylor Faces Surge In Fake Endorsement Videos
Instances of fraudulent AI-generated videos claiming Michael Saylor’s endorsement of doubling individuals’ funds were reported by several X users last week. These videos encourage viewers to scan a QR code and send Bitcoin to the scammer’s address. This situation mirrors the 2022 emergence of fake Elon Musk videos on the same video streaming platform.
In early January, a deepfake video featuring Anatoly Yakovenko, co-founder of Solana, circulated on YouTube and social media. Austin Federa, head of strategy at the Solana Foundation, noted a significant rise in deepfakes and AI-generated content, highlighting a growing concern in the industry.
In December 2023, cybersecurity experts warned about the increasing realism of AI-powered deepfake videos as technology advances. CertiK blockchain analyst Jesse Leclere and 0xScope researcher Jerry Peng highlighted the evolving sophistication of phishing driven by generative AI. Peng emphasized the potential role of AI in creating highly convincing deepfakes to deceive cryptocurrency users.
On January 9, U.S. law enforcement officials cautioned that generative AI tools could reduce the technical barriers for potential scammers. However, Rob Joyce, director of cybersecurity at the National Security Agency, argued that AI could aid authorities in tracking down illegal activities more efficiently.