Apple iPhone 16 launch and the deepfake of CEO crypto scam controversy

As we all know, the iPhone 16 is captivating hearts globally. The recent launch has created a huge buzz, with tech enthusiasts eagerly anticipating its new features and advancements. Apple’s Glowtime event on September 9 showcased the latest iPhone models through a livestream that drew millions of viewers. However, amid all the excitement, a new type of scam emerged. Scammers used a deepfake video of Apple CEO Tim Cook to trick people into a crypto scam. 

As we continue to explore the world of crypto scams, Boztech brings you the latest information about the IPhone 16 launch and crypto controversy. This disturbing trend highlights the darker side of AI technology. In this blog, we’ll discuss the details of this scam and its implications.

The iPhone 16’s release is a major leap forward, with its AI integration being one of the remarkable features. Apple has infused the new iPhone with advanced AI capabilities designed to enhance user experience (UX) through smarter photography, more intuitive voice assistants, and improved security features. 

The promise of AI making our devices more capable and helpful is certainly exciting. However, it’s worth wondering whether this level of AI integration is entirely safe or not?

Earlier in our blog, we discussed how Elon Musk expressed strong concerns about the potential risks associated with AI, even going so far as to ban Apple devices from his workplace. To read more about Elon Musk and his decision to ban Apple devices at his workplace, click here.

While Apple’s Glowtime event was generating hype, the real drama was happening elsewhere. Scammers seized the event’s high visibility by launching a series of fake livestreams. They created a deepfake video of Tim Cook, using footage from old interviews and editing it with AI to make it seem like Cook was endorsing a cryptocurrency investment scheme.

If you follow Boztech, you’ll know that such endorsements are often linked to scams, as seen recently with the deepfake live streams involving Elon Musk and Cristiano Ronaldo. These scammers set up several YouTube live streams that mimicked Apple’s official channel, complete with a verified tick to look legitimate, and fooled many viewers.

One of these fraudulent streams drew over 355,000 viewers by promising to double their money. Viewers were instructed to send Bitcoin, Ethereum, Tether, or Dogecoin to a specific address, with the false assurance of receiving double the amount in return. Known as ‘double your money’ schemes, these scams involve asking users to send their crypto in exchange for a promise of doubling their funds, while the scammers simply pocket the money. The scammers even used fake transaction screens to create the illusion that others had already received their doubled deposits, further deceiving and misleading viewers. 

On September 9, YouTube’s support team acknowledged the scam in a post on X, advising users to report the video through the official reporting tool. The fraudulent videos have since been removed, and the associated accounts deactivated, but the damage had already been done, leaving many unsuspecting individuals with empty wallets.

It is a major concern, as in June, a crypto scam involving McDonald’s Grimace went viral, followed by a surge in deepfake frauds. During that month, crypto scammers hijacked a YouTube news channel to post videos of a deepfake Elon Musk discussing cryptocurrency. The increase in scams has heightened concerns over AI-generated content.

Here’s a piece of advise 

This incident is yet another proof of the growing threat of AI-driven scams and highlights the need for vigilance in an increasingly digital world. As AI technology becomes more sophisticated, so too do the methods used by scammers. Boztech has advised from the beginning that it is important for users to remain cautious and verify the legitimacy of any investment opportunities, especially when they involve high-profile figures or offer returns that seem too good to be true.

Wrapping up

So, now the real question is, what does the future hold with AI playing such a significant role in our lives? Will we see more of these deepfake scams, or will there be advances in technology that can outsmart these deceptive practices? We want to hear your thoughts. Comment below and let us know what you think about this!

Stay tuned for more updates and insights on crypto scams and the tech world here at Boztech. Keep following us for the latest information and tips to protect yourself from digital fraud.