Deepfake Crypto Scams Exploit Apple’s iPhone 16 Launch Event on YouTube

TLDR:

• Deepfake videos of Tim Cook used to promote crypto scams during Apple’s iPhone 16 launch event
• Scammers promised to double cryptocurrency deposits in fake livestreams
• Some fraudulent streams appeared on verified YouTube channels impersonating Apple
• YouTube acknowledged the scam and removed the videos
• Similar deepfake scams have targeted other high-profile figures and events

Amid the excitement of Apple’s highly anticipated iPhone 16 launch event on September 9, 2024, cybercriminals seized the opportunity to exploit the tech giant’s popularity by flooding YouTube with deepfake videos of CEO Tim Cook promoting cryptocurrency scams.

These fraudulent livestreams coincided with Apple’s official “Glowtime” event, which unveiled the latest generation of iPhones and other products.

The scam videos featured artificial intelligence-generated versions of Tim Cook urging viewers to participate in a “double-your-money” scheme. In one of the fake streams, the AI-generated Cook asked viewers to send various cryptocurrencies, including Bitcoin, Ethereum, Tether, and Dogecoin, to a specified “contribution address.”

The deepfake Cook promised, “Once you complete your deposit, the system will automatically process it and send back double the amount of the cryptocurrency you deposited.”

AI is getting WAY too good

355k people watching a fake “apple” account on @youtube that’s promoting a massive crypto scam lol

The reason there are so many viewers is because the keynote today at 12pm cst@YouTubeCreators pic.twitter.com/O2ufpxdKnF

— BearPig 🧸🐷 (@BearPigCentral) September 9, 2024

These fraudulent livestreams were designed to take advantage of the high viewer counts during Apple’s product launch. Some of the fake streams appeared on YouTube channels that were made to look like official Apple accounts, complete with verification badges to lend an air of legitimacy.

One such channel was named “Apple US” and featured the familiar checkmark associated with verified accounts.

The scam videos garnered significant attention, with reports indicating that some streams collected hundreds of thousands of views. However, it’s likely that many of these views were generated by bots to give the streams an appearance of legitimacy and attract real viewers.

While waiting for the Apple Event, a crypto scam stream has impersonated the event on Youtube with a AI modified video of Tim Cook convincing the audience to buy Crypto. @YouTube ???? pic.twitter.com/bt6mPw5Djl

— Aadit Doshi | HundredStar Games (@AaditDoshi) September 9, 2024

YouTube’s support team acknowledged the scam on September 9, urging users to report suspicious content through the platform’s official reporting tool.

The video streaming giant took swift action, removing the fraudulent videos and closing the associated accounts. However, the incident highlights the ongoing challenge of combating sophisticated scams on social media platforms.

This is not an isolated incident in the world of cryptocurrency scams. Similar schemes have targeted other high-profile individuals and events in the past.

For instance, in June 2024, a major Australian broadcaster had its YouTube news channel hijacked by crypto scammers who posted videos of a deepfake Elon Musk discussing cryptocurrency.

Around the same time, YouTube was flooded with deepfake versions of Musk coinciding with a SpaceX rocket launch, promoting similar fraudulent double-your-money schemes.

The increasing prevalence of these scams underscores the growing concern about AI-generated content and its potential for misuse. The World Economic Forum highlighted the possible adverse outcomes of AI technologies in its 2024 “Global Risks Report,” signaling the need for increased vigilance and improved security measures.

As deepfake technology becomes more sophisticated and accessible, it poses significant challenges for platforms like YouTube in detecting and preventing such scams.

The incident during Apple’s iPhone 16 launch event serves as a stark reminder of the importance of user awareness and the need for robust verification processes to combat the spread of misinformation and fraud online.

While YouTube and other platforms continue to develop and implement measures to combat these scams, users are advised to remain vigilant and skeptical of any offers that seem too good to be true, especially those involving cryptocurrency transactions.