Deepfake CEO and $1.3B loss
Rod Boothby
Digital Identity Leader | VP Product | 2X Co-Founder CEO, COO $150M Incremental Revenue | Ex Wells Fargo, AIG, EY, Santander Grew npm Inc to #1 Javascript Repo with 20M Developer users
The CEO sounded like a character straight out of central casting. Educated at 英国剑桥大学 , a stint at 高盛 , sold a company to Adobe , and there was even a video from Steve Wozniak . Now, it appears this CEO was conjured out of thin air. It appears he doesn't exist. Not even on paper. A human NFT ... Not Friggin' There.
Today, Ashley Belanger reported in Ars Technica that "Thousands of consumers lost millions."
The Guardian Australia 's Sarah Martin points to a Chainalysis 2023 Crypto Crime Report which says that the Hyperverse "crypto scam" pulled in nearly $1.3 billion in revenue.
Bank-based Identity Can Help Prevent ID Scams
There is a simple and easy way to solve this. We have a global system already available that can accurately verify the identity of people. It is the global financial system. Banks are well regulated, they comply with rigorous anti-money laundering standards set by organizations like the Financial Action Task Force (FATF) , the Know Your Customer standards set by national governments.
Bank-based ID systems in countries like Norway, Sweden, Belgium and Canada have radically reduced online fraud.
You can try out a version of a bank-based identity system right here on linkedin. Go to https://notabot-linkedin.idpartner.com/