Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BLOCKCHAIN NEWS»Multinational corporation loses $25.6 million in deepfake scam
BLOCKCHAIN NEWS

Multinational corporation loses $25.6 million in deepfake scam

By Crypto FlexsFebruary 6, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Multinational corporation loses .6 million in deepfake scam
Share
Facebook Twitter LinkedIn Pinterest Email

A Hong Kong financial employee was tricked into transferring $25.6 million using deepfake technology, highlighting the growing cybersecurity threat of such scams.

A global company based in Hong Kong has become the victim of a clever cyber theft that looks like it was ripped straight from the script of a high-tech thriller. The fraudsters succeeded in stealing $25.6 million from them. As part of the scam, deepfake technology was used to imitate the UK-based company’s chief financial officer (CFO), as well as other easily identifiable government officials during video conferences. Financial employees who were initially skeptical of the request to transfer cash to five local bank accounts through 15 transactions were eventually persuaded by the realistic images of executives created using deepfake technology. Given the fact that deepfakes have become more persuasive and more accessible to malicious actors, this incident serves as a sharp warning of the growing threats associated with artificial intelligence technologies.

It was about a week later that the employee tried to check the details of transactions made within the organization, but realized that he had been tricked into believing something that was not true. By highlighting the critical need for businesses to improve their cybersecurity protections and for consumers to remain alert to these sophisticated scams, this case highlights the importance of these two priorities. Hong Kong police arrested six people in connection with the scam, highlighting the meticulous preparation by the scammers. They used stolen IDs to register bank accounts and apply for loans, and in many cases even misled facial recognition software.

We are concerned that deepfake technology is being used for nefarious purposes, from creating sexual photos of celebrities without their consent to carrying out complex financial crimes. This scam is part of an increasingly widespread trend. Additionally, it raises important questions about the safety of videoconferencing technology and the importance of identity verification during digital interactions.

The evolving capabilities of artificial intelligence and deepfake technology pose significant challenges to cybersecurity. To combat these growing risks, it is necessary to improve the awareness of people and organizations while equipping them with technological solutions.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

British trail EU, US encryption regulation, think tank warning

June 22, 2025

ZKJ Crypto Price Pumps 20%: Dead Cat Bounces?

June 17, 2025
Add A Comment

Comments are closed.

Recent Posts

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

GBM Launches Auction Festival With The Sandbox, Aavegotchi, Unstoppable Domains, And More

June 26, 2025

French “Spiderman” Scales Skyscraper To Launch World’s First Action Token

June 26, 2025

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 2025

Why I am still optimistic despite noise

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025
Most Popular

Microstrategy’s Michael Saylor says spot Ethereum ETF approval is good for Bitcoin. Here’s why:

May 27, 2024

As Bitcoin ranges closer to $100,000, traders watch DOGE, SUI, PEPE, and FTM.

December 8, 2024

SOL DEX Jupiter’s JUP token debuts with 1.35 billion circulating supply

January 31, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.