See More

Alert: Deepfake Anatoly Yakovenko Video Targets Solana (SOL) Holders

2 mins
Updated by Ryan James
Join our Trading Community on Telegram

In Brief

  • YouTube recently removed a deepfake video featuring Solana co-founder Anatoly Yakovenko, following a surge in such scams.
  • The video, which offered a giveaway via QR code, was reported by the Solana team but only removed following media reports.
  • The scam coincides with a significant increase in Solana's total value locked, which has roughly doubled since last month.
  • promo

YouTube recently took down a new deepfake featuring Solana co-founder Anatoly Yakovenko. The Solana Foundation has warned of increasing deepfakes, seeking to capitalize on the recent increase in Solana’s total-value-locked (TVL).

The videos look convincing but have no connection to Solana or any of its projects. The foundation’s head of strategy, Austin Federa, said that the foundation reports scams it finds to platforms but has no power to take them down.

YouTube Ignores Anatoly Yakovenko Deepfake

The video featured Yakovenko announcing a historic day for Solana. He thanked the community and offered a giveaway via a QR code.

Read more: How to Buy Solana (SOL) and Everything You Need To Know

The video appeared on YouTube and social media platform X. One YouTube user reported seeing the video as an ad on the former.

“There has been a substantial increase in deepfakes and other AI-generated content recently,” Federa added.

However, taking down the videos is not easy. The Solana team reported the incident last night. YouTube only took the video down after news media reported the incident.

The delay is especially concerning, considering how hard deepfakes have become to spot. Such scams can have dire consequences when they are related to investments and finance.

Deepfake Accompanies Solana TVL Increase

The incident came as Solana experienced a surge in total-value-locked. According to DeFiLlama, a decentralized finance data aggregator, Solana’s TVL has almost doubled from $671 million in the first week of December to $1.35 billion. The increase may be due to Jito, a new protocol that allows validators to get the maximum extractable value (MEV) from each transaction on the blockchain.

Solana TVL Deepfake Anatoly Yakovenko
Total Value Locked on Solana is $1.35 Billion | Source: DeFiLlama

Validators stake their or others’s cryptocurrencies for a chance to earn rewards for securing the network. Each transaction block can be constructed to maximize profits.

Read more: Top 6 Projects on Solana With Massive Potential

Jito allows validators to decide how to distribute profits to those who have staked coins. It also allows participating validators a ticket to liquid staking protocol, the Jeto network.

Altcoin Daily co-founder Austin Arnold said Solana benefits from faster speeds and cheaper transactions than Ethereum. However, Ethereum has better network effects and is more censorship-resistant. Therefore, Arnold suggests there will be a place for both networks in the future.

Do you have something to say about the recent Solana deepfake or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTokFacebook, or X (Twitter).

Top crypto projects in the US | April 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

David-Thomas.jpg
David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...
READ FULL BIO
Sponsored
Sponsored