Don’t Fall for These Trending Bitcoin/Crypto Scams

Crypto with Lorenzo
7 min readJan 7, 2024

YouTube needs to crack down on this and assign more resources to stamp this out.

Image by ozrimoz on Shutterstock

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The evolution of AI in recent years has led to more convincing videos being distributed on various social media platforms to entice people into certain traps.

Today’s scam in focus involves AI-generated voice and video to convince people to send X amount of BTC, ETH or another digital asset to a wallet and “you will receive double the amount”.

The common denominator is to “maximise your profits” and generate X% of returns on your initial investment, often at regular intervals. Some of these involve you sending x amount to a wallet, and you will “receive double in return.”

I admit most of you here would identify this scam in a heartbeat. No rational-minded person would fall victim to this.

It often involves using a (co-) founder’s voice and, with the power of AI, replacing what was actually said in front of an audience with something bogus.

Unfortunately, many people still do. In some cases, there are people in a vulnerable financial position who naively or desperately want to believe in what they see and hear.

If others have made a quick fortune — often by investing in meme coins or, as a more…