Background: Zhao Changpeng (CZ), founder of Binance, recently warned about the security threats posed by AI deepfake technology. Japanese cryptocurrency advocate Mai Fujimoto suffered a deepfake attack during a video call, which led to her Telegram and MetaMask accounts being compromised by malware, and her main Twitter account was also hijacked.

Main Event: During a Zoom video call with a hacked acquaintance, Mai Fujimoto clicked on a malicious link sent by the other party due to audio issues, resulting in her accounts being breached. CZ reminded users that even video call verification cannot guarantee security and urged users not to click on unofficial software installation links.

Impact and Significance: According to a Bitget report, nearly 40% of high-value crypto scams in 2024 involve deepfake technology, causing losses of at least 4.60 billion USD. Criminals use AI-generated fake celebrity videos, simulate customer service chats, and even spread malicious links through video conferencing tools. Hong Kong police uncovered a case involving AI video scams amounting to 34 million USD, highlighting the growing prevalence of AI-driven fraud. CZ emphasized that as technology advances, AI deepfakes will make identity verification increasingly difficult, and users need to remain vigilant. SoSoValue is also paying attention to such security risks.

Binance founder Changpeng Zhao (CZ) has sounded a fresh alarm on the growing threat of AI-powered deepfakes, after a chilling real-life hack compromised Japanese crypto advocate Mai Fujimoto during a routine video call.The incident has renewed calls for stricter security habits as criminals wield advanced AI to breach even trusted communication channels.<h2>A Case Study in Modern Hacking</h2>On June 20, Fujimoto, better known online as Miss Bitcoin, narrated how she fell victim to a deepfake after being tricked into a Zoom call with an acquaintance whose Telegram account had already been compromised.According to her, the person on the video link was familiar, causing her to let down her guard. “For about 10 minutes in the online meeting, I saw her face but had no clue it was a deepfake,” Fujimoto recounted.However, there were audio issues with the call, prompting the deepfake impersonator to send a link supposedly meant to fix the problem. After clicking the link, Fujimoto unknowingly installed malware that compromised her Telegram and MetaMask. Her main X account was also hijacked, forcing her to plead with followers to report it as impersonation. She also warned users of the social platform not to click any links sent from the account.“If I had known about this kind of attack, I might not have clicked the link,” the crypto enthusiast lamented, urging widespread awareness.Her ordeal struck a chord across the crypto community, with influencers and security experts flooding X with stern reminders that in the age of AI, trust must be verified through multiple channels.CZ weighed in, too, warning his 10 million followers of the rampant use of artificial intelligence in new kinds of deepfake hackings. “Even a video call verification will soon be out of the window,” he cautioned, suggesting AI-generated impersonations will become harder to detect as the technology improves.The former Binance head urged users never to install software from unofficial links, even if they appear to come from friends.<h2>The Rise of AI-Powered Fraud</h2>The attack on Fujimoto is hardly isolated. A major report released by Bitget only days ago revealed that deepfake technology had played a role in nearly 40% of all high-value crypto frauds in 2024, contributing to at least $4.6 billion lost to scams.The study documented criminals using AI to create convincing fake videos of public figures like Elon Musk promoting scams, simulating customer service chats, and crucially, weaponizing video conferencing tools like Zoom with malicious links.Additionally, a different publication by Chainalysis noted that lawbreakers were increasingly using AI tools, including deepfakes, to bypass KYC measures and automate fraud, making crypto cons “increasingly difficult to detect.”In one such instance, Hong Kong police arrested 31 individuals linked to a syndicate that stole $34 million using AI-generated videos of crypto executives. Terrifyingly, the report warned that AI-driven swindles are poised to grow significantly.

CZ Warns of AI Deepfake Risks: Video Call Security Faces Challenges in the Cryptocurrency Sector