Featured image screenshot from PressOnePH‘s story.
With regulatory uncertainty still surrounding the crypto industry in the Philippines, any news about developments in the space can quickly gain traction.
Recently, a deepfaked video falsely alleged that President Ferdinand Marcos Jr. is blocking Elon Musk’s cryptocurrency platform in the country.
What is It About?
According to PressOne.PH, a manipulated video, disguised as an ABS-CBN News Patrol broadcast, recently spread on the social media platform Facebook, falsely alleging that Marcos Jr. is preventing Musk’s crypto platform from operating in the Philippines.
The video features Musk supposedly stating in a forum that the Philippine government is “hiding his platform” and claiming it could help Filipinos earn millions of pesos monthly with an initial deposit of ₱15,000. It then cuts to another deepfaked clip of Marcos Jr., seemingly endorsing the fraudulent crypto scheme.
A caption on the video reads:
MISSED OPPORTUNITY OF THE YEAR: PBBM HID THE PLATFORM THAT COULD HAVE MADE EVERYONE RICH. FIND OUT HOW MUCH YOU’VE LOST – BEFORE IT’S TOO LATE.
The video garnered 2,500 reactions, 915 comments, and 1,700 shares on Facebook, according to PressOne.PH.
However, as of press time, the video—along with the page that posted it, PSG PARIŽ CZ SK—is no longer searchable.
Fact Checked: The Video Is Fake
In a report, PressOne.PH revealed that the video is a hoax, created using deepfake technology.
According to the report, the original footage came from a February 19 ANC News Patrol episode, in which news anchor Stanley Palisada made no mention of Musk or any crypto platform.
Moreover, Musk’s clip was taken from a May 2024 interview at the Milken Institute, during which he did not discuss the Philippine government, Marcos Jr., or any crypto trading platform.
Meanwhile, the altered video of Marcos Jr. was originally from his February 18 speech at the Department of Social Welfare and Development’s 74th anniversary, where he did not mention cryptocurrency at all.
What is a Deepfake?
A deepfake is a type of synthetic media created using artificial intelligence and machine learning to manipulate or replace faces, voices, or actions in videos, images, or audio recordings. Deepfakes can make it appear as though someone said or did something they never actually did.
As deepfakes become more sophisticated, distinguishing real from fake content grows increasingly difficult. Fact-checking and media literacy are essential to identifying and preventing deception caused by deepfakes.
Check out other BitPinas’ fact check articles:
This article is published on BitPinas: Deepfake Scam Claims Marcos Jr. Blocked Elon Musk’s Crypto, News Outlet Fact Checks
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