SA’s Leading Crypto Company on Guard After AI Deepfake Scam Hits Employees
- Luno, a licensed financial services provider in South Africa and a prominent crypto investment app, is on alert following a recent deepfake scam that targeted one of its employees.
- Deepfakes, increasingly sophisticated synthetic media crafted by artificial intelligence, are being weaponized by criminals to deceive individuals and companies, leading to significant financial damage.
- Luno has formed a specialized team to identify and eliminate fraudulent representations of the company on social media and websites, resulting in the removal of over 2,000 fake social media accounts and nearly 500 deceptive websites.
The increasing threat of AI-powered impersonation fraud in the cryptocurrency sector, as highlighted by the deepfake scam targeting Luno, poses significant risks to businesses and individuals. It is crucial for companies like Luno to remain vigilant and take proactive measures to identify and eliminate fraudulent representations. The use of blockchain technology can enhance transparency and help in the fight against deepfakes, but the industry as a whole needs to collaborate to effectively combat this emerging threat.
