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Fraudsters create a deepfake of a Binance executive to con crypto developers

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It’s common for scammers to impersonate companies or executives but one group has taken it even further

A group of fraudsters have targeted a Binance executive by creating a deepfake image.

Deepfakes can use a celebrity’s face or manipulate their lips to say something else.

The team used news interviews and TV appearance of Binance’s Chief Communications Officer, Patrick Hillmann to impersonate him having meetings with other crypto developers.

The executive was surprised when people began thanking him for listing their projects on the Binance platform.

“This was odd because I don’t have any oversight of or insight into Binance listings, nor had I met with any of these people before,” he said.

In a recent blog post, Hillmann says there has been a recent increase in these instances.

“Beyond this latest incident, there’s been a recent spike in hackers pretending to be Binance employees and executives on platforms such as Twitter, LinkedIn, Telegram.”

PATRICK HILLMANN, BINANCE’S CHIEF COMMUNICATIONS OFFICER

The company is urging crypto developers to be careful with who they trust.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Sam Bankman-Fried attempting to resolve bail conditions dispute

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Sam Bankman-Fried is in talks with U.S. prosecutors to resolve a dispute over his bail conditions

The 30-year-old former billionaire has been blocked from contacting employees of FTX or his Alameda Research hedge fund, after prosecutors raised concerns he may tamper with witnesses.

Bankman-Fried has pleaded not guilty and is under house arrest at his parents’ California home.

Once worth an estimated $26 billion, Bankman-Fried was arrested in December after FTX collapsed.

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Crypto heists in 2022 totalled $3.8 billion

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Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea

A Chainalysis report found hacking activity that “ebbed and flowed” throughout the year, with “huge spikes” in March and October.

October was the biggest single month ever for cryptocurrency hacking, with $775.7 million stolen in 32 separate attacks.

North Korea-linked hackers such as those in the cybercriminal syndicate Lazarus Group have been by far the most prolific cryptocurrency hackers, stealing an estimated $1.7 billion worth of in multiple attacks last year.

North Korea has denied allegations of hacking or other cyberattacks.

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Sam Bankman-Fried banned from communication with FTX

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A U.S. judge has banned former FTX founder Sam Bankman-Fried from contacting current and former employees

Federal prosecutors asked for this ruling, as they believe Bankman-Fried may tamper with witnesses or destroy evidence in his criminal fraud case.

It was revealed the 30-year-old tried to send a message to someone known as ‘Witness 1″ a few weeks ago, proposing to have a constructive conversation with them.

Bankman-Fried was arrested in December on charges of looting billions of dollars of FTX customer funds, and lying to investors and lenders.

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