Singapore's Prime Minister, Lee Hsien Loong, has issued a warning to his followers about the use of deepfake videos featuring his voice and image to promote cryptocurrency scams. The prime minister cautioned against responding to scammers employing artificial intelligence (AI) technology to create deceptive content, emphasizing the rising threat of deepfake technology in spreading misinformation.


Key Points:

  • Deepfake Scam Alert: Prime Minister Lee Hsien Loong took to social media on December 28 to alert his followers about deepfake videos using his likeness and voice. These fraudulent videos were designed to promote cryptocurrency scams, falsely claiming the prime minister's endorsement of "returns on investments" and crypto giveaways.

  • Hands-Free Crypto Trading Scam: The deepfake video in question was created by scammers to endorse a fake "hands-free crypto trading" scheme. Such scams often promise unrealistic returns on investments and exploit the credibility of public figures to deceive individuals into participating.

  • Vigilance Against Disinformation: Prime Minister Loong emphasized the growing use of deepfake technology for spreading disinformation. He urged the public to remain vigilant and learn how to protect themselves and their loved ones from falling victim to such scams in the evolving landscape of AI-driven deception.

  • History of Targeting: The prime minister has been a target for scammers in the past. In 2021, he warned citizens to be cautious when dealing with cryptocurrency platforms after someone set up a BitClout profile using fake social media accounts. The recent deepfake incident underscores the persistent efforts of scammers to exploit high-profile individuals for fraudulent activities.

  • Global Phenomenon: Cryptocurrency scams involving the impersonation of public figures are a global phenomenon. The use of deepfake technology allows scammers to create convincing content, raising concerns about the potential for increased deception and the need for heightened awareness.

Implications and Outlook: The warning from Prime Minister Lee Hsien Loong sheds light on the growing threat of deepfake technology in the cryptocurrency space. As scammers leverage AI to create increasingly convincing fraudulent content, individuals and authorities must remain vigilant to prevent the spread of misinformation and protect against financial fraud.

Conclusion: The cautionary message from Singapore's prime minister serves as a reminder of the evolving tactics employed by scammers in the cryptocurrency landscape. The prevalence of deepfake technology highlights the need for enhanced awareness, education, and cybersecurity measures to safeguard individuals from falling prey to deceptive schemes. As deepfake scams continue to pose risks globally, addressing these challenges becomes integral to maintaining trust and security in the cryptocurrency ecosystem.


(TURNER WRIGHT, COINTELEGRAPH, 2023)