A highly realistic AI-generated deepfake of former MicroStrategy CEO Michael Saylor has been circulating on YouTube.
The deepfake video, which showcases Saylor with an uncannily accurate replication of his voice and mannerisms, is part of a fraudulent scheme aimed at deceiving Bitcoin owners.
New level of crypto scams
The AI-generated deepfake presents a well-dressed individual resembling Michael Saylor, seated in an elegant office surrounded by bookshelves — an image reminiscent of a trustworthy business environment.
In the video, the figure convincingly imitates Saylor’s voice and entices viewers with a too-good-to-be-true offer: doubling their Bitcoin by following a series of “easy steps.”
The deepfake emphasizes the security and safety of the transaction to deceive some gullible and not-so-tech-savvy users.
The fake Saylor is urging viewers to scan a QR code and visit a website to begin the process of supposedly increasing their digital assets.
Widespread problem
This incident is not isolated; similar scams have pervaded the cryptocurrency sphere, exploiting the influential images and reputations of well-known figures in the industry.
Recently, a similar scam emerged involving a realistic imitation of Ripple CEO Brad Garlinghouse, pointing to a broader issue within social media platforms.
Such fraudulent activities are becoming increasingly sophisticated and harder to distinguish from legitimate communications.
The rise of such AI-powered crypto scams even prompted Garlinghouse to publicly call out YouTube for its perceived lack of efforts to combat such scams after previously taking the popular video-hosting platform to court.