Misleading Video of Vitalik Buterin Created by Deepfake- Certik

The continuous growth of deepfake technology poses a significant threat to the cryptocurrency community. Media reports claim that, most recently, Vitalik Buterin, a leading personality in space, became the victim of the evolving technology. 

On Feb 6, 2024, the X account of Certik posted a screenshot of the circulating video of Buterin, and the firm also highlighted the name of the source from where the screenshot was taken. 

Certik claims that the scamming website is named ‘strnetclaim(dot)cc’ and is believed to be promoting the wallet controlled or handled by the drainer. It was not the first time that some bad actors used the name or other things related to Buterin. Earlier, a name coin was promoted in the name of the Ethereum co-founder, and after a few days, it was noticed that it was a scam. 

Impacts of Deepfake Technology on Crypto 

In the past few months, deepfake technology has been used by scammers and fraudsters to erode the positive image of crypto among enthusiasts. The growing technology is used to produce manipulated videos, audio, and other forms of content of any known industry personality, and that can influence the people seeking to make crypto investments.  

Not only in crypto but in other industries, deepfake has entered, and rather than building a positive image or ensuring growth, it is affecting the growth. Deepfake technology is famous for its ability to generate videos and audio narration from text content.   

Crypto Market Updates  

OKX, a prominent centralized cryptocurrency exchange, fell into trouble as a financial agency launched a criminal investigation against the exchange. There are several claims and one is that the exchange is operating in the nation without proper documentation.  

In the past 24 hours, the entire crypto has changed its gear, and the market capitalization has increased by more than 3%. As of writing, the market capitalization was $1.71 Trillion. 

Bitcoin (BTC) and Ethereum( ETH) prices have shown a whooping momentum, and when writing, BTC was trading at $44,747 and ETH was trading at $2,420. The most interesting was the growth of Solana (SOL), as it grew more than 6%, which makes it the 5th most traded crypto in the market.   

Cardano (ADA) enjoyed an appreciable growth in terms of price in the past 24 hours as its price grew above 11%, which makes it part of the list of daily gainers backed by CoinMarketCap. 

Some leading tokens/coins of the market, such as Monera, SUI, Tron, and Lido, faced a severe rejection, and the price of all fell an average of 2- 10 %.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.