Live AI deepfake video makes ‘pig butchering’ scams more convincing

“Pig butchering” is an unsavory term for a very specific kind of phishing attack, wherein the scammer targets a wealthy individual with the lure of romance and then takes them for all they’re worth. It’s hardly a new idea — they used to call this kind of thing “fleecing” — but new software tools are making it a lot easier and more effective.

A ring of scammers in Hong Kong managed to use live “deepfake” video to steal millions from their victims.

Police in Hong Kong arrested 27 people who operated out of an office and conspired to rip off wealthy people by pretending to be attractive romance prospects and getting them to invest big bucks in phony cryptocurrency schemes.

The methodology is familiar: Set yourself up as an attractive stranger with an alluring profile photo, slowly build up a rapport with the victim through text messages, and casually hint at the prospect of vast profits with a new crypto platform. Once the …