Cybercriminals have launched a crypto scam using deepfake technology to impersonate Apple CEO Tim Cook during the company’s iPhone 16 launch event.

Apple announced its latest iPhone models during the ‘Glowtime’ event on September 9. This opportunity was leveraged by scammers.

YouTube was flooded with fake livestreams featuring AI-generated versions of Tim Cook. These videos aimed to make use of the view count during the new iPhone launch to promote crypto scams.

Tim Cook’s deepfakes promise to double crypto

The deepfake videos were showcasing an artificial intelligence-generated Tim Cook. The fake Cook was urging viewers to participate in a “double-your-money” scheme.

“Once you complete your deposit, the system will automatically process it and send back double the amount of the cryptocurrency you deposited,” the fake Cook claimed in one of the scam streams.

Scammers requested viewers to send various cryptocurrencies. These include Bitcoin, Ethereum, USDT, and Dogecoin, to a specified “contribution address.” The fraudsters promised to return twice the amount of any cryptocurrency sent.

Fraudulent streams gain traction on YouTube

Some of the fake livestreams appeared on channels that looked like official Apple accounts. Some of these channels even had verification badges to lure viewers.

@AaditDoshi we really appreciate you bringing this to our attention. mind reporting the video in the official reporting tool if you haven't yet? this page has more info on how to do that: https://t.co/xZxakolqoB

— TeamYouTube (@TeamYouTube) September 9, 2024

YouTube’s response to the incident was swift. The platform’s support team acknowledged the scam in a September 9 post on X. They urged users to report suspicious content through official channels. The video streaming giant took down the fraudulent videos and the associated accounts.

This incident is not isolated. Similar crypto scams have targeted other high-profile figures and events, including SpaceX launches featuring deepfakes of Elon Musk. Ripple CEO Brad Garlinghouse has also been impersonated in multiple instances to promote fake crypto schemes.

The recent incident with Apple happened when the company launched a series of new Apple products. The company unveiled their new iPhone 16 line up, including the pro and max models. Additionally, they launched their new Apple Watch, Airpods and their AI powered Apple Intelligence.

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