The Federal Bureau of Investigation (FBI) has issued a warning about a sophisticated phishing campaign employing deepfake technology to impersonate senior U.S. government officials. These attacks, which began in April, utilize AI-generated voice messages and text communications to deceive current and former federal and state officials, aiming to extract sensitive information and credentials.

According to the FBI, the perpetrators initiate contact by posing as high-ranking officials to build trust with their targets. Once rapport is established, victims are directed to malicious websites controlled by the attackers, designed to harvest login credentials and other confidential data. Compromised accounts can then be exploited to target additional officials or associates, amplifying the potential damage.

The agency emphasizes that any unsolicited communication claiming to be from a senior U.S. official should be treated with skepticism. Indicators of deepfake content include distorted facial features in images or videos and inconsistencies in sender information. The FBI advises against sharing sensitive information with unknown contacts, clicking on suspicious links, and recommends the implementation of multi-factor authentication to enhance account security.

In a related incident, Sandeep Nailwal, co-founder of the blockchain platform Polygon, reported being targeted by a deepfake scam. Attackers hacked the Telegram account of Polygon’s ventures lead and invited individuals to a Zoom call featuring a deepfake video of Nailwal. During the call, participants were prompted to install software, which could potentially compromise their systems. Nailwal has urged users to exercise caution and avoid installing software during unsolicited online interactions.

These developments underscore the growing threat posed by AI-driven deepfake technologies in cybercrime. The FBI continues to monitor the situation and urges individuals to remain vigilant against such sophisticated phishing attempts.

Brazilian fintech firm Méliuz has officially transitioned into the country’s first publicly traded Bitcoin treasury company following shareholder approval on May 15. The company simultaneously announced the acquisition of an additional 274.52 Bitcoin (BTC), valued at approximately $28.4 million, bringing its total holdings to 320.3 BTC, worth over $33 million at current market prices.

Executive Chairman Israel Salmen celebrated the milestone, stating, “Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.” The recent purchase was made at an average price of $103,604 per BTC, reflecting a 600% yield on the company’s Bitcoin investments.

Méliuz’s strategy involves accumulating Bitcoin in an “accretive way” for shareholders, utilizing various financial instruments. Rather than merely allocating a portion of its cash reserves to Bitcoin as a hedge against inflation or currency devaluation, the company has repositioned its purpose to maximize the amount of Bitcoin per share.

This strategic shift has positively impacted Méliuz’s stock performance. Since announcing its initial Bitcoin purchase of 45.73 BTC on March 6, the company’s shares (CASH3.SA) have surged over 117%, according to Google Finance data. Méliuz’s market capitalization now exceeds 727.9 million Brazilian reais, or more than $128 million.

While Méliuz holds 320.3 BTC, e-commerce platform MercadoLibre currently possesses a larger Bitcoin reserve, with over 570 BTC valued at $59.2 million. However, Méliuz distinguishes itself by integrating Bitcoin investments into its core business strategy, positioning itself as a pioneer in Latin America’s corporate Bitcoin adoption.

Méliuz is renowned for its cashback program and serves over 30 million users across Brazil. The company’s bold move into Bitcoin treasury management reflects a growing trend among Latin American firms embracing cryptocurrency as a strategic asset.

The FTX Recovery Trust has announced that it will commence the second phase of creditor repayments on May 30, distributing over $5 billion to eligible claimants. This follows the initial round of reimbursements in February, which returned approximately $1.2 billion to creditors. The forthcoming payments are expected to be processed within one to three business days through cryptocurrency firms BitGo and Kraken.

Under the reorganization plan, five groups categorized as “convenience classes” are set to receive distributions ranging from 54% to 120% of their adjudicated claims. While not all account holders will be reimbursed in this round, the trust has indicated that the repayment schedule for the next class of creditors will be announced in due course. The total amount to be disbursed could reach up to $16 billion if all claims are filed.

Despite the progress in repayments, some former FTX users have criticized the reorganization plan for basing disbursements on cryptocurrency prices at the time of the exchange’s bankruptcy in November 2022. Since then, the price of Bitcoin has surged by more than 400%, from approximately $20,000 to over $100,000. Nevertheless, the recovery plan anticipates that 98% of creditors will receive at least 118% of their initial claim value in cash.

This development comes more than two and a half years after FTX filed for bankruptcy. In the interim, former CEO Sam Bankman-Fried was found guilty of misusing customer funds and sentenced to 25 years in prison. Other executives, including former Alameda Research CEO Caroline Ellison and former FTX Digital Markets co-CEO Ryan Salame, have also been sentenced for their roles in the collapse.