Michael Saylor, the executive chairman of MicroStrategy, has disclosed that he has to deal with a deluge of misleading videos featuring his likeness generated with artificial intelligence (AI). According to Saylor, as many as 80 fake videos are produced each day, mainly aiming to trick Bitcoin enthusiasts into falling for scams.

Saylor sounded the alarm on X (initially Twitter) on January 13, warning his 3.2 million followers about the surge of convincing deep fakes on YouTube. These videos typically publicize a too-good-to-be-true Bitcoin scheme promising to double investors’ holdings. He reminded his followers that there is no risk-free method of doubling one’s Bitcoin, and that MicroStrategy doesn’t offer free Bitcoin to individuals who scan a barcode.

These videos have been reported to trick watchers into scanning a QR code to send Bitcoin to the scammers. This practice is unfortunately not new, with similar AI-generated videos featuring Elon Musk making rounds on the platform last year.

AI-technology is progressing at an alarming rate, with Austin Federa, head of strategy at the Solana Foundation, noting “There has been a substantial increase in deepfakes and other AI-generated content recently,”. It’s clear that the field of cybersecurity will have to contend with these emergent threats, with experts suggesting that phishing scams are growing more sophisticated thanks to generative AI.

On a brighter note, Rob Joyce, director of cybersecurity at the National Security Agency, espoused the benefits of AI in identifying and targeting illegal activity. As the accessibility of AI tools increases for scammers, the race to leverage these tools for defense is also heating up.