MicroStrategy CEO Michael Saylor issued an urgent warning about the rise of artificial intelligence (AI) being weaponized to create sophisticated Bitcoin scams. Saylor revealed his security team takes down around 80 fake AI-generated YouTube videos daily featuring him promoting fraudulent BTC giveaways. However, scammers persist in churning out more deep fakes.
These AI scams typically promote fake podcasts or videos urging users to send BTC to a provided address and receive double the amount back, a common grift aiming to deceive victims. Saylor cautioned Bitcoin holders that no risk-free way exists to double BTC holdings, and MicroStrategy does not distribute free Bitcoin for scanning barcodes.
Saylor advised the community to always verify and avoid blindly trusting supposed offers. He is not alone in being impersonated by AI fraudsters. In November 2023, deep fake videos emerged of Ripple CEO Brad Garlinghouse touting phony XRP giveaways on social media.
AI’s ability to generate believable fake content like images, videos, and audio poses a growing threat as the technology rapidly advances. While AI has many benefits, it can also empower scammers in new ways. The crypto community must remain vigilant against AI-powered fraud by verifying the legitimacy of any crypto-related information before acting.
Best practices include scrutinizing the source of offers, never sending crypto to unknown or untrustworthy entities, and rejecting anything promising unrealistic returns. As AI becomes more sophisticated, crypto holders must become smarter to avoid being duped. Michael Saylor’s warning makes clear that AI scams are here and everyone must stay alert.
