OKX user claims to have lost $2 million in deep fake AI scam

A user known as “来日方长” (The Future is Long) has reported a significant security breach involving their OKX account, resulting in a loss exceeding $2 million. According to WuBlockchain, the user detailed that the scammers had obtained all of his personal information through Telegram. Using this data, the attackers accessed his email account and initiated a password reset. They then used an AI-generated video to change his phone number, email address and Google Authenticator settings. This sophisticated method allowed the fraudsters to drain the account within 24 hours.

The incident highlights the growing threat of AI-driven cybercrime in the crypto sector. Deepfake technology, which can mimic a person’s voice, face and gestures, has been increasingly used in cyberattacks. As reported by Government Technology, these AI-generated deep fakes can deliver misinformation and misleading messages at an unprecedented scale and sophistication, making them harder to detect and stop. This new generation of cyberattacks is undermining trust in digital interactions, posing significant challenges for both individuals and organizations.

The breach involving 来日方长 is part of a wider trend of AI-related fraud. Earlier this year, Fortune highlighted the emergence of OnlyFake, a site capable of producing very realistic fake IDs that can fool your customer identification processes on crypto exchanges like OKX. These developments show that cybercriminals are increasingly using AI to bypass traditional security measures.

In response to these threats, experts emphasize the importance of increasing security awareness and training. As noted by Government Technology, effective security awareness training can change the security culture, making individuals more alert and better equipped to detect sophisticated phishing attacks. Additionally, organizations are encouraged to adopt new technology tools that use AI to detect and prevent message fraud, thus fighting fire with fire.

So far, neither OKX nor cyber security firm SlowMist have provided a response regarding the incident involving 来日方长. CryptoSlate has reached out to OKX for comment, but has not received a response by press time. WuBlockchain has asked exchanges to increase their security measures and for users to be more vigilant about protecting their personal information to mitigate the risk of such advanced attacks. The incident serves as a stark reminder of the evolving nature of AI cyber threats and the need for constant adaptation in security practices.