PM of Singapore Alerts Residents to Deepfake Crypto Scam Using His Image
Singapore authorities have warned residents to be cautious of a deepfake crypto scam that is circulating on social media and elsewhere using the image of Prime Minister (PM) Lee Hsien Loong.
The scam promises participants the chance to invest in a new cryptocurrency with a “guaranteed” return of $20,000. It further states that the PM will be investing $2,000 himself and encourages others to join the scheme.
City officials have warned that this is a scam and all those who take part in it may be liable to criminal charges. The police and financial authorities have also been advised to monitor the situation to ensure that the perpetrators are brought to justice.
It is the latest in a series of deepfake schemes that have targeted prominent figures, including former President Barack Obama and Russian President Vladimir Putin. These scams often involve impersonating well-known public figures to persuade people to part with their money through bogus schemes.
Deepfakes are becoming increasingly hard to detect and the rise of more sophisticated technology has made them even easier to create. As such, it is important for the public to be extremely wary of suspicious communications and not fall for any offer that may seem too good to be true.