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Feb 11, 2024

Hackers Steal $25 Million by Deepfaking Finance Boss

Posted by in categories: cybercrime/malcode, finance

A multinational company was scammed out of $25.6 million by hackers who fooled employees at the company’s Hong Kong branch into believing their digital recreation of its chief financial officer — as well as several other video conference participants — were real.

The hack, believed to be the first of its kind, highlights just how far deepfake technology has progressed.

As the South China Morning Post reports, scammers are believed to have used publicly available footage to create deepfake representations of the staff. Some of the fake video calls apparently only had a single human on the line, with the rest being deepfakes created by the hackers.

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