Shenzhen TechFlow News, on September 4, according to Cointelegraph, security software company Gen Digital (the parent company of Norton, Avast and Avira antivirus software) released a second quarter report for 2024 showing that the use of artificial intelligence-driven deepfake videos for encryption There has been a significant increase in currency scam activity.

The report focuses on a fraud group called "CryptoCore", which uses AI deep fake technology to commit cryptocurrency fraud. They tamper with official videos of celebrities such as Elon Musk, Michael Saylor, Vitalik Buterin and Larry Fink, replace the original audio with AI-generated voices, or mix unofficial materials with official clips to commit fraud.

Gen Digital pointed out that these criminal organizations mainly spread their videos on social media platforms such as YouTube, X (formerly Twitter) and TikTok. Scammers also use hacked high-profile social media accounts to broadcast live to promote their fraudulent schemes. Gen Digital security expert Siggi Stefnisson warned users that scammers are good at using topics that the target group is currently concerned about, including love, financial security and elections, to design fraud schemes.