Home Bitcoin News Bitcoin Scam SBF Deepfake Rip-off Affords Customers 'Compensation' for FTX Collapse – Decrypt

SBF Deepfake Rip-off Affords Customers 'Compensation' for FTX Collapse – Decrypt

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Briefly

  • A verified Twitter consumer posing as FTX founder Sam Bankman-Fried shared an apparently modified video pointing to a crypto rip-off.
  • The obvious rip-off guarantees “compensation” for FTX’s current collapse, providing to ship crypto customers double the quantity of Bitcoin or Ethereum that they ship in.

If the collapse of well-liked cryptocurrency trade FTX wasn’t already damaging enough, now scammers are utilizing the debacle to attempt to extract much more crypto from customers. Over the weekend, an obvious “deepfake” video of FTX founder Sam Bankman-Fried (SBF) circulated on Twitter, providing “compensation” for customers in an try and steal their funds.

Motherboard stories that now-suspended verified Twitter consumer S4GE_ETH posed as Bankman-Fried over the weekend, and shared a video of the previous CEO apparently providing free cryptocurrency for anybody affected by FTX’s chapter.

Nevertheless, the video seems to be footage from an previous SBF interview that has been modified with new dialogue by way of deepfake strategies, wherein AI know-how creates realistic-looking facial actions to match the newly-added audio. The voice is much like SBF’s, however extra robotic in tone with stilted English dialogue to match.

“Good day everybody. As you already know, our FTX trade goes bankrupt,” the apparently faked model of Bankman-Fried mentioned. “However I hasten to tell all customers that you shouldn’t panic. As compensation for the loss, we’ve ready a giveaway for you in which you’ll be able to double your cryptocurrency. To do that, simply go to the location ftxcompensation.com.”

The Twitter consumer has been suspended and the tweet is gone, however the web site continues to be reside. It includes a blurry photograph of Bankman-Fried and guarantees to present away as much as $100 million price of Bitcoin and Ethereum mixed. The identical sort of stilted English language (instance: “Instruction for take part”) from the video is current on the web site as properly.

“We sympathize with everybody who has been affected by our FTX trade,” the rip-off web site claims. “We determined to run a 5,000 BTC & 50,000 ETH giveaway for all crypto holders!”

The web site particulars a quite common sort of crypto rip-off that claims that for those who ship an quantity of Bitcoin or Ethereum to its pockets addresses, then the perpetrators will instantly ship again double the quantity. Nevertheless, that’s by no means truly the case: the scammers merely preserve the cash that’s despatched in, aided by the pseudonymity of crypto.

One of the crucial well-known examples occurred in July 2020, when an attacker—later identified as British citizen Joseph James O’Connor—compromised the Twitter accounts of Joe Biden, Barack Obama, Elon Musk, and different public figures to share an analogous rip-off. In the end, it raked in more than $100,000 worth of cryptocurrency.

Fortunately, this FTX rip-off seems to have carried out far much less injury to this point. The Ethereum pockets handle listed on the location has taken in about 1.2 ETH (about $1,340) over the previous few days, whereas the Bitcoin pockets shows zero transactions thus far.

FTX filed for Chapter 11 bankruptcy protection on November 11 after disclosing a liquidity crunch earlier that week. Tentative plans for a buyout from rival trade Binance fell through, and the agency says it has liabilities topping $10 billion—together with over $3 billion worth throughout its 50 largest collectors.

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