An investigation conducted by data firm Inca Digital reveals that at least two companies have fallen victim to a fraudster who used artificial intelligence (AI) to disguise themselves in video calls and sold millions of dollars in fake FTX liquidation claims. The thief stole at least $5.6 million by posing as someone selling high-value FTX claims, which appeared legitimate but were not connected to the scammer. The stolen funds were quickly laundered through non-U.S. exchanges like Binance. It is still uncertain if federal law enforcement officials are investigating the involved exchanges. The collapse of the global FTX exchange has created a secondary market for the yet-to-be-distributed assets, making it an opportune time for fraudsters. The rise of AI fakery has made it increasingly difficult to distinguish between real and fake video calls. In addition to the fraudulent video presence, the scammer provided fake identification, false addresses, and real claim data, potentially obtained from online sources or data breaches. The CEO of Inca Digital warns that this type of theft may become more common as the cryptocurrency market continues to grow.



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