Russian Firm Warns of New Trump Deepfake Crypto Scam Bot

A Russian security provider has warned that fraudsters are using a new Donald Trump deepfake crypto scam bot.

RBC reported that the claims came from FACCT (Fight Against Cybercrime Technologies), a Moscow-based company that develops anti-cyber attacking solutions.

Trump Deepfake Crypto Scam Bot: Frausters to Target TikTok?

FACCT said it had discovered a bot circulating on a popular chat app that allowed its users to “create deepfakes” using “the faces of famous people.”

This bot, the firm said, can be used to create deepfake videos that feature the US President-elect.

Donald Trump’s foreign policy team will seek to ratchet up sanctions on Tehran, including vital oil exports, as soon as the president-elect re-enters the White House https://t.co/xKnF6mVSZ2 pic.twitter.com/3nuoKUgzhs

— Financial Times (@FT) November 17, 2024

Scammers can also reportedly use the bot to make bogus videos featuring entrepreneur Elon Musk and American journalist Tucker Carlson.

The security provider added that the bot creates Trump, Musk, and Carlson-themed video and sound files featuring “any text, up to 400 characters long.”

The firm said the deepfake-creating bot is “designed for an English-speaking audience.” And, it said, scammers will use it to “generate advertising for fake crypto exchanges.”

It added that these videos were starting to make their way onto “TikTok, YouTube, and other social media networks.”

Elon Musk’s social media platform X sued to block a California law aimed at curbing AI-generated deceptive election content on social media https://t.co/vKkD5HuGvj

— Bloomberg (@business) November 15, 2024

Three Types of Scam

The company went on to explain that crypto fraudsters are currently focusing their attention on three types of scams.

The first, it said, are “fake crypto exchanges and bogus brokers.” This sees “fraudsters force their victims to transfer” tokens to their wallets before vanishing with their coins.

A second type of scam is called the “crypto predator,” FACCT said. This involves duping victims into clicking links that download malicious software, “thereby gaining access to their crypto wallets.”

And the third, the security company said, are “scam tokens, coins that users can buy, but can never sell.”

Cryptonews.com has also seen materials apparently promoting crypto-themed gambling scams to Chinese speakers on Telegram in recent days.

Many of these materials make use of seemingly fake videos and images of both Trump and Musk, and invite users to join private chat app “rooms.”

The Biden administration allowed Ukraine to use US-made weapons to strike deep into Russia, a marked reversal of Washington's policy regarding the war https://t.co/L73NDJzXEB pic.twitter.com/Ca6Cs0SkFn

— Reuters (@Reuters) November 18, 2024

The Russian Central Bank has issued multiple warnings to citizens this year, claiming that the nation is seeing a sharp uptick in crypto scams.

However, the bank is also witnessing a rise in digital ruble-themed scams, as it looks to roll out its CBDC nationwide next year.