iPhone 16 Launch: Scammers Use Deepfake to Scam Cryptocurrency

Scammers used deepfake technology to impersonate Apple CEO Tim Cook during a fake iPhone 16 launch livestream on September 9. The scammers broadcast the scam on YouTube livestreams, where an AI-generated version of Cook appeared to solicit Bitcoin from viewers.

The hoax broadcast lasted for several days and coincided with the launch of SpaceX, which was also the target of a similar scam involving a deepfake of the company’s CEO, Elon Musk.

The fake SpaceX event was once the third-largest live stream on YouTube. However, most of the “live viewers” ​​were bots, created to give the false impression of authenticity to the event. Similarly, the fake Apple event fooled many users on the platform, who were lured by promises of a supposed cryptocurrency giveaway.

Scammers try to steal cryptocurrency in fake iPhone 16 launch

The use of deepfakes in this type of scam has become increasingly sophisticated. The technique allows scammers to create seemingly legitimate livestreams of public figures. In the case of the fake livestream involving Cook and the iPhone 16, the quality of the AI-generated manipulation was convincing enough to fool many viewers.

On X (formerly Twitter), a Tim Cook deepfake also asked viewers to send Bitcoin (BTC), Ether (ETH), Tether (USDT), or Dogecoin (DOGE) to a contribution address. The account falsely claimed that Apple would double their contributions in return.

“Once you complete your deposit, the system will automatically process it and send you back double the amount of cryptocurrency you deposited.”

In addition to Tim Cook, in the case of the iPhone launch, Elon Musk was also the victim of a similar fraud during the SpaceX launch. On that occasion, the criminals used a dubbed version of the businessman to ask for cryptocurrency from viewers, promising double returns. The combination of deepfakes and bots, together with the popularity of live events, has proven to be a powerful tool for deceiving users and obtaining illegitimate profits.

The scam has caught the attention of the cryptocurrency community. It also highlights the increasing use of advanced technologies such as deepfakes to commit cryptocurrency scams online. Platforms such as YouTube have been criticized for their lack of oversight and control over fraudulent live streams, which can deceive millions of users around the world.