SBF Deepfake Rip-off Affords Customers ‘Compensation’ for FTX Collapse

 SBF Deepfake Rip-off Affords Customers ‘Compensation’ for FTX Collapse


  • A verified Twitter person 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 common cryptocurrency alternate FTX wasn’t already damaging sufficient, now scammers are utilizing the debacle to try 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 to steal their funds.

Motherboard experiences that now-suspended verified Twitter person 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.

Nonetheless, the video seems to be footage from an outdated SBF interview that has been modified with new dialogue by way of deepfake strategies, through which AI know-how creates realistic-looking facial actions to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.

“Howdy everybody. As you realize, our FTX alternate 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, now we have ready a giveaway for you in which you’ll double your cryptocurrency. To do that, simply go to the positioning”

The Twitter person has been suspended and the tweet is gone, however the web site remains to be reside. It includes a blurry photograph of Bankman-Fried and guarantees to offer 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 nicely.

“We sympathize with everybody who has been affected by our FTX alternate,” 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 when you ship an quantity of Bitcoin or Ethereum to its pockets addresses, then the perpetrators will instantly ship again double the quantity. Nonetheless, that’s by no means really the case: the scammers merely maintain the cash that’s despatched in, aided by the pseudonymity of crypto.

One of the crucial well-known examples passed off in July 2020, when an attacker—later recognized 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. Finally, it raked in additional than $100,000 price of cryptocurrency.

Fortunately, this FTX rip-off seems to have achieved far much less injury up to now. The Ethereum pockets deal with listed on the positioning has taken in about 1.2 ETH (about $1,340) over the previous couple of days, whereas the Bitcoin pockets shows zero transactions to this point.

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

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