Changpeng Zhao Issues Warning on Crypto Scams

Binance founder Changpeng ‘CZ’ Zhao has issued a warning about the growing threat of AI-generated deepfake videos circulating online.

He took to social media to alert his followers about fake videos showing him endorsing various cryptocurrencies, emphasizing that he has no involvement with the coins being promoted.

In a recent post on X, Zhao explained that these AI-driven deepfakes are misleading viewers into believing he is backing projects he has never supported. He urged the crypto community to be vigilant against such scams, as deepfakes are becoming more prevalent with advances in artificial intelligence.

These videos are created using deep learning algorithms that can fabricate realistic footage of individuals, making them say or do things they never actually did.

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The issue of AI-powered scams extends beyond just Zhao, as the crypto world faces increasing concerns about the misuse of this technology. Scammers are using AI to produce fake content that deceives investors and tarnishes the reputations of key figures in the industry.

Ripple CEO Brad Garlinghouse has also highlighted the rise in deepfake scams, pointing out instances where videos of him were manipulated to promote fraudulent products. Ripple has issued several warnings, advising consumers to be cautious of fake accounts impersonating the company.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.