Crypto scammers are running deepfake videos of U.S. President Donald Trump as YouTube Live videos, in what seems to be an attempt to steal investors’ Bitcoin.
Multiple ‘live’ YouTube videos featured Mr. Trump at what seemed to be a NATO press event. There, he was seen urging viewers to scan a QR code on the screen and send their Bitcoin to the specified location in order to get back double the amount.
The background of the video looked just like that of the NATO’s summit in the Netherlands on June 25. However, media outlets did not report on the U.S. President promoting any Bitcoin giveaways at the time. The videos were also not shared by any official White House channels. In some such videos, Mr. Trump incorrectly refers to himself as the 45th U.S. President. The provided links also change across some videos.
Screengrab of the deepfake video of Mr. Trump promoting crypto; cropped to obscure a fraudulent QR code and link | Photo Credit: YouTube
Throughout the morphed video, which had a QR code and instructions saying ‘Scan QR or regret’ inserted into the visuals, Mr. Trump repeatedly urged viewers to send their Bitcoin without hesitation and get more money back as soon as they could.
He also gave a speech praising America’s progress with Bitcoin, digital money, and energy.
While some of the YouTube Live videos had been suspended when checked later, many duplicate versions of the video were still live and running, with some recording thousands of viewers or followers.
Mr. Trump’s voice and style of speaking in the videos were highly believable, and at first glance it did not look as if his lips were being artificially synced to match the venture he was promoting.
Crypto security experts have long decried the persistent trend of celebrity deepfakes being uploaded as YouTube Live videos in order to fool crypto investors.
Blockchain analytics platform Elliptic also recently released its report observing that AI tools such as chatbots and deepfake software made it easier to launch crypto crimes and scams.
Mr. Trump had positioned himself as a crypto-friendly president in the run-up to the 2024 presidential election, which helped boost his popularity with fintech entrepreneurs and more conservative crypto traders.
He has also been linked to the World Liberty Financial project as well as a Trump meme coin, often confusing his followers and fans who are not always sure which Trump-related crypto ventures are legitimate.
