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Changpeng "CZ" Zhao (CZ), the former CEO of Binance exchange, has alerted the online crypto community to a widespread artificial intelligence (AI) scam. CZ addressed a scam, in which imposters have used AI to create and market a fake autobiography in his name.
CZ warns against AI scams
Taking to social media platform X, CZ has confirmed that he did not publish the book, titled, "Beyond Borders, An Autobiography by CZ."
"This is NOT my book. Beware of scammers using AI to make fake books." CZ wrote. CZ attached the laughing emoji, suggesting he is approaching the situation with a degree of humor, possibly at the audacity of the scammers.
This tone is consistent with his past interactions on X, where he often mixes humor with serious warnings about fake accounts or tokens.
The fake book is currently circulating on platforms like Apple Books. It is complete with fabricated descriptions of his life and Binance journey, to exploit his upcoming real memoir.
Scammers released the autobiography just days after CZ announced final edits to his actual book and solicited cover designs. Bad actors quickly capitalized on fan excitement to release the fake book, using CZ as the supposed author.
Meanwhile, CZ revealed earlier in March that he had received the first draft of his book on paper. According to CZ, the book, which contains 114,000 words, took longer than initially expected.
AI scams on rise
This incident emphasizes a broader trend of AI-driven impersonation scams in crypto. In 2024, CZ warned about deepfake videos mimicking crypto executives. Zhao urged users to beware and not fall for such schemes.
Cardano Founder Charles Hoskinson also commented on his "own" deepfake video promoting a scam ADA airdrop. Hoskinson predicted that AI deepfakes will be impossible to tell from real videos with real influencers in a few years.
He expressed concerns with the ease with which these fraudsters could fabricate convincing videos using sophisticated LLM applications to mimic the appearance, voice and mannerisms of key industry leaders.
Binance CEO Richard Teng has also addressed the increase in AI "face attacks." Teng revealed that hackers are cloning faces from public photos to steal crypto.
According to the CEO, criminals use AI to mimic users’ faces, attempting to trick Binance’s facial recognition system. If they succeed, they gain unauthorized access to victims’ accounts.
Recognizing the new AI face attack threat, Teng urged Binance users to secure their devices and limit sharing their facial data.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team