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Crypto firms among top targets of audio and video deepfake attacks

Author: Content Editor
The survey conducted by Regula, a forensic services firm, revealed that audio and video deepfake frauds are impacting the crypto industry significantly. Of the crypto companies surveyed, 57% reported being victims of audio fraud, while 53% fell for fake video scams. These percentages exceed the average impact of both types of fraud across different sectors. The survey also found that deepfake incidents have grown since 2022, with audio deepfakes increasing from 37% to 49% and video deepfakes leaping from 29% to 49%. Additionally, 53% of crypto companies reported being victims of synthetic identity fraud using deepfake methods. While crypto firms reported an average loss of $440,116 to deepfake frauds, they still rank third in average losses among sectors. The survey highlighted that over half of businesses across sectors view deepfake fraud as a significant threat. The crypto sector is particularly concerned about video deepfake scams, likely due to the increase in occurrences this year. Notable deepfake scams in the crypto industry include a $2 million loss in June and a deepfake scam ring in Hong Kong that stole $46 million.

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