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Market News

Singapore PM Warns Against Deepfake Scams in Crypto Videos

Singapore's deepfake surge by 500% in 2023 alarms PM, stressing the escalating threat and urging heightened vigilance.

Written By Ronak Kumar
Published 2023-12-29·Updated 6 months ago
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Singapore PM Warns Against Deepfake Scams in Crypto Videos

The caution issued by Singapore’s Prime Minister Lee Hsien Loong against falling prey to circulating deepfake videos falsely depicting his endorsement of crypto investment scams.

In a Facebook post on December 29, PM Loong shared a manipulated video where he appeared to discuss a crypto platform with a Chinese news presenter.

PM Loong clarified that the video was fake, emphasizing that scammers employ AI to mimic voices and images. Urging the public to disregard such videos, he encouraged reporting fake news via the government’s ScamShield Bot on WhatsApp.

Deepfake incidents in Singapore surged by 500% in 2023, prompting the PM to emphasize the growing threat and urge vigilance. The warning follows Cardano’s Charles Hoskinson’s alert on the increasing credibility of deepfake scams.

The surge in deepfake incidents targeting Singapore’s Prime Minister underscores the urgent need for public awareness and vigilance in the face of evolving digital deception.

Also Read: Elon Musk Deepfake on YouTube Scam Nets $165K in Crypto

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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TAGGED:Crypto ScamSingapore
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