Benzinga - American venture capitalist Tim Draper alerted crypto users to the rise of scammers employing artificial intelligence (AI) voice generators.
What Happened: Draper, with a following of approximately 254,000 on X, formerly Twitter, advised his followers to remain vigilant against “thieves” utilizing AI to mimic his voice. He pointed out that “AI is getting smarter,” with instances of followers reporting attempts by fraudsters impersonating him in order to persuade individuals to send cryptocurrency.
Advancements in AI technology have made it increasingly accessible for ordinary individuals to mimic celebrities’ voices or manipulate videos of politicians, thereby enabling them to seemingly say anything they desire.
This trend was exemplified when, following the collapse of FTX in November 2022, scammers created a deepfake video featuring former CEO Sam Bankman-Fried offering compensation to affected users. A similar incident took place with a deepfake video featuring Tesla CEO Elon Musk in May 2022.
Apparently AI is getting smarter, and people are using my voice to try to get you to send money (crypto). Please know that I will never ask the public X followers for money. If anyone asks, it is not me. They are thieves.— Tim Draper (@TimDraper) October 19, 2023
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Why It Matters: In 2014, Tim Draper made headlines by setting a $10,000 price target for Bitcoin (CRYPTO: BTC) by the year 2017. It raised eyebrows at the time, but three years later, Bitcoin did indeed reach the $10,000 mark.
Following this, Draper became a sought-after figure for fresh Bitcoin price forecasts. In 2018, he announced an even more ambitious target of $250,000 for Bitcoin, a goal that has yet to be attained.
Despite the ongoing wait, Draper remains steadfast in his belief that Bitcoin will ultimately reach $250,000, though he has adjusted his timeline several times. "One of the great things about Bitcoin is that it's decentralized. That's why I'm a big believer, it's decentralized," he told Benzinga in an exclusive interaction.
Price Action: At the time of writing, BTC was trading at $28,810.35 up 2.12% in the last 24 hours, according to Benzinga Pro.
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