Opportunist crypto scammers took advantage of the hype around Apple’s ‘Glowtime’ iPhone 16 event on September 9 to fish for potential victims through Google-owned video streaming app YouTube. Several users posted screenshots of multiple scam videos, that showed Cook promoting crypto giveaways, advertising investment schemes, and instigating crypto transactions through QR codes being flashed on screen. The Apple honcho’s tailored video also replicated his voice as he asked for donations in the form of Bitcoin, Ether, and Tether from a website that resembled Apple’s original site.

From the screen recordings shared on social media by people who came across these videos on YouTube, it appears that a bunch of these deep fake videos were deployed by hackers to grab the attention of genuine Apple enthusiasts, who were navigating the web to stream the launch of the flagship iPhone 16 models.

These videos, that are now unavailable, managed to garner thousands of views, said a report by CoinTelegraph.

Those who flagged these deepfakes on X expressed serious concerns over the growing misuse of advanced technologies like artificial intelligence (AI). YouTube also faced criticism for its inability to effectively filter out such scam content, which has the potential to cause significant financial harm to users.

YouTube failed to post a standalone statement on the situation, but it did react to one of these videos.

“@AaditDoshi we really appreciate you bringing this to our attention. Mind reporting the video in the official reporting tool if you haven’t yet?” said the verified handle of @TeamYouTube.

This incident is not the first time that crypto scammers have resorted to creating deep fake videos of influential personalities to advocate their scam schemes to innocent, unsuspecting people.

In June this year, AI-generated deep fake videos of Elon Musk were published on a hacked Australian news channel, luring people to participate in a crypto giveaway.

Due to the volatile nature of crypto assets and the difficulty in tracing transactions, hackers and scammers are increasingly flocking to the cryptocurrency space to exploit investors. Global law enforcement agencies, including the FBI, have warned that crypto scammers are becoming more adept at using sophisticated techniques to carry out their crimes.

This week, the FBI revealed that members of the crypto community lost over $5.6 billion (roughly Rs. 47,029 crore) to cryptocurrency-related fraud last year, marking a 45 percent increase from 2022.

Back in May, Microsoft President Brad Smith had also said that his biggest concern around AI was deep fakes, realistic looking but false content. Smith has called for licensing for the most critical forms of AI with ‘obligations to protect the security, physical security, cybersecurity, national security’.