Report: AI deepfakes videos or used to defraud millions of dollars in FTX debt settlement

According to CoinDesk, data analysis company Inca Digital has discovered that a fraudster who uses AI to deepfake videos is using fake FTX to clear debt and defraud companies, involving amounts exceeding $5.6 million. The fraudster successfully obtained a large amount of funds by disguising their identity and making video calls with the company that purchased FTX to settle debts. Scammers may have used face swapping techniques and forged relevant documents during video calls. The investigation shows that although these false debt data are not linked to actual creditors, they are still considered valid by buyers. Fraudulent funds are quickly laundered through non-U.S. exchanges such as Binance, and it is currently unclear whether federal law enforcement agencies are tracking the relevant data. Inca Digital's report suggests that this type of fraud may involve more victims and may affect upcoming FTX clearing payments.