Solana Co-Founder's Deepfake Video Surfaces Online, Crypto Users on Twitter Ask Big Tech to be Prompt

Solana has reported this incident to the law enforcement authorities while also clarifying that Solana itself is not capable of eliminating this video from the web.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 5 January 2024 17:41 IST

Solana Co-Founder's Deepfake Video Surfaces Online, Crypto Users on Twitter Ask Big Tech to be Prompt

Photo Credit: Reuters

As per The Verge, YouTube has terminated the account that was associated with the video

Highlights

Deepfakes are misleading videos created using digital software and ML
Number of deepfakes in the crypto industry increased by 128 percent in 20
Solana’s team has asked big tech platforms to be prompt

The threats of deepfakes are looming large over the social media landscape. The crypto sector is no exception to the dangers of deepfakes-powered fake news. In a new development, a deepfake video of Anatoly Yakovenko, the co-founder of Solana, was found circulating on social media. The video has been found on YouTube and X among other platforms, asking users to try their luck in a giveaway – which seems to be a potential scam to steal from members of the crypto industry.

Deepfakes are misleading videos created using digital software, machine learning, and face swapping. In Yakovenko's deepfake video, the artificially generated avatar impersonating the Solana co-founder first expressed thanks to the SOL community.

As Yakovenko's deepfake video progresses, the slightly robotic sounding avatar can be seen directing people to participate in the fake giveaway through a displayed QR code. A related website is also displayed along with the message.

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PSA: Just spotted a crypto deep-fake scam youtube ad.

:rotating_light: Please DO NOT scan this qr code!

They're taking advantage of the Solana pump most likely.

Pretty insane...$SOL #Solana pic.twitter.com/AlvVTOSuBs
— ⬣ Hexgeta ⬣:squid::m::shield: (@hexgeta) December 30, 2023

Solana has reported this incident to the law enforcement authorities while also clarifying that Solana itself is not capable of eliminating this video from the web, The Verge reported, citing Austin Federa, the head of strategy at the Solana Foundation.

As per The Verge, YouTube has terminated the account that was associated with the video, confirmed Nicole Bell, the spokesperson of the Google-owned video-streaming app.

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A recently released report by Samsub said Deepfakes remain a growing concern for the crypto industry, with 70% of companies noting their increasing popularity among fraudsters. The same report also claimed that in 2023, the number of deepfakes in the crypto industry increased by 128 percent as compared to 2022.

Regardless, Federa has reportedly asked big tech platforms like YouTube and X to be more prompt in-terms of dealing with these kinds of deceiving videos.

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Further reading: Cryptocurrency, Solana, Deepfake, Anatoly Yakovenko

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More