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Apple Co-Founder Steve Wozniak: YouTube Bitcoin Scam Victims ‘Lost Life Savings’

2 months ago
in Web3
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Apple co-founder Steve Wozniak says YouTube ignored a number of takedown requests after his likeness was utilized in a bitcoin rip-off.
Wozniak’s warning comes amid an increase in AI-powered deepfake fraud concentrating on tech leaders.
Final week, a UK MP known as for YouTube adverts to face the identical regulation as TV and radio promoting.

Apple co-founder Steve Wozniak has accused YouTube of failing to behave in opposition to a Bitcoin rip-off that used his likeness, warning the identical lax programs at the moment are enabling a surge in international deepfake fraud.

“Some individuals mentioned they misplaced their life financial savings,” Wozniak advised CBS Information. “That’s a criminal offense. A great particular person, in case you see a criminal offense taking place, you step in and attempt to cease it.”

Wozniak discovered he had been impersonated in rip-off adverts a number of years earlier and continues to be combating a 2020 case in courtroom in opposition to YouTube for its lack of motion in taking down the content material.

The Apple co-founder mentioned he found the rip-off after his spouse, Janet, acquired an e mail from a sufferer asking once they would get their a reimbursement.

The scammers had “truly taken video of Woz speaking about Bitcoin,” Janet defined. “Then they put a pleasant body round it with a Bitcoin deal with, and mentioned that in case you despatched him any quantity of Bitcoin, he would ship you double that again.”

“Take a look at spam, take a look at the phishing makes an attempt simply far and wide,” Wozniak mentioned. “And there is not sufficient actual, I do not know, muscle to struggle it.”

Deepfake fraud on the rise

Wozniak’s warning comes amid an explosion in AI-generated deepfakes and rising on-line fraud. Some $9.3 billion was misplaced to on-line scams in 2024, in response to experiences made to the FBI’s Web Crime Grievance Heart (IC3). The true complete is probably going far increased.

Tech leaders from Elon Musk to Jeff Bezos have seen their likenesses hijacked in related scams, whereas critics say main platforms stay gradual to behave. An absence of strong moderation and oversight for on-line adverts, particularly on social media and video platforms, has allowed spammy, deceptive, and outright fraudulent content material to flourish.

Wozniak’s criticism of YouTube echoes that of UK Liberal Democrat MP Max Wilkinson, who final week known as for adverts on the platform to be regulated to the identical requirements as tv and radio within the UK.

“Laws must meet up with the fact of how persons are watching content material,” Wilkinson mentioned, warning that “unscrupulous advertisers should not be allowed to make use of loopholes to take advantage of individuals.”

Google, which owns YouTube, advised Decrypt it eliminated over 5.1 billion adverts and restricted one other 9.1 billion in 2024, suspended 39.2 million advertiser accounts for main violations, and blocked adverts on 1.3 billion writer pages.

The corporate mentioned it has strict advert insurance policies, invests closely in enforcement, and has 1000’s of individuals working across the clock to police its platforms.

It isn’t the one tech firm that has are available in for criticism of its content material moderation skills. Comparable claims have been leveled at Meta, X and different social media platforms.

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Tags: AppleBitcoincofounderlifelostsavingsscamSteveVictimsWozniakYouTube
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