Changpeng “CZ” Zhao, the former CEO of Binance, has urged the global cryptocurrency community to remain vigilant against AI-generated deepfakes that promote cryptocurrency scams on social media. This warning comes following his recent release from prison.
“There are deepfake videos of me circulating on various social media platforms. Please beware!” Zhao posted on X, formerly known as Twitter.
Prominent figures, including former President Donald Trump, billionaire songwriter Taylor Swift, Ripple CEO Brad Garlinghouse, Tesla CEO Elon Musk, and Zhao himself, have recently been impersonated through deepfake technology.
The rise in deepfake scams has coincided with Vice President Kamala Harris’ recent outreach to the crypto industry, leading to speculation that she may soon become the target of similar AI-generated content promoting crypto tokens.
According to blockchain data forensic firm Elliptic, most deepfake cryptocurrency scams follow a predictable pattern. These scams typically invite unsuspecting individuals to transfer cryptocurrency to a specific wallet address, promising substantial returns that never materialize.
Zhao was released from a California prison last month after serving a four-month sentence for violating U.S. money laundering laws and other infractions related to the Bank Secrecy Act. His company, Binance, the world’s largest cryptocurrency exchange, pleaded guilty to charges and was fined $4.3 billion—one of the largest penalties ever levied against a corporation. Additionally, Zhao himself faced a $50 million penalty from U.S. authorities, along with another $50 million fine imposed by the U.S. Commodity Futures Trading Commission.
Since his departure, Zhao has highlighted Binance’s strong performance in his absence, stating, “Binance seems to be doing well without my intervention, which is great. This is every founder’s dream!”
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