Hackers Use Binance CCO’s Deepfake for Exchange Listing Scam

A group of hackers managed to impersonate Binance Chief Communications Officer (CCO) Patrick Hillmann in a series of video calls with representatives of digital cryptocurrency projects. The attackers used what Hillman describes as an artificial intelligence hologram, deepfake his image to accomplish this, and managed to trick some representatives of the projects into thinking that Hillman was helping them get listed on the exchange.

Binance CCO Patrick Hillmann was impersonated by a third party

Hackers and scammers are improving their methods by including more technical tools in their plans. Binance Chief Communications Officer (CCO) Patrick Hillmann reported last week on a new and sophisticated way attackers use his image to conduct listing scams.

Hillmann said the hacker managed to program his AI (artificial intelligence) hologram, a deepfake, used to trick representatives of several cryptocurrency projects during a Zoom call. Holograms were able to trick these projects into believing that they were considering a listing on Binance and that Hillmann was part of the operation.

The listing plan was discovered when the members contacted Hillman to thank him for his help with the so-called listing opportunity. However, he was unaware of these meetings as he was not involved in Binance’s listing process.

Hillmann did not disclose details on which cryptocurrency projects were targeted, nor the funds invested for the so-called listing service.

Internet fraud

The Binance CCO also warned that such fake scams have increased on several social media platforms on the internet. In this regard, Hillman said:

In addition to this latest incident, there has been a recent surge in hackers masquerading as Binance employees and executives on platforms such as Twitter, LinkedIn, Telegram, and others. We are ready to protect our users and our ecosystem.

Binance’s listing process does not include third parties, Hillmann clarified that project listing proposals are only received through the direct listing application page. According to a blog post published last year, Binance does not charge a flat listing fee for these projects. Regarding the value of the listing fee, Binance explained:

There is no fixed number. Just come up with a number you’re happy with. Show that you are willing to contribute to social impact.

Additionally, all fees collected by the exchange are donated to Binance Charity, a blockchain tracking charity sponsored by the exchange. Listing scams appear to be becoming more common, as Brazilian crypto investment platform Bluebenx has also recently been a victim of such scams.

What do you think of the Binance deepfake-driven listing scam? Let us know in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist in Venezuela. He describes himself being late to the game, entering the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency craze on a social level, he offers a different perspective on the success of cryptocurrencies and how it can help the unbanked and underserved.

Image Source: Shutterstock, Pixabay, Wiki Commons, Iryna Budanova, Shutterstock.com

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