ChainCatcher news, according to Cryptoslate, Polygon co-founder Sandeep Nailwal recently revealed that scammers are using AI technology to forge videos of his likeness to defraud startups in the crypto industry.

The scammers first hacked the Telegram account of Polygon Ventures head Shreyansh Singh, and then contacted startups within the ecosystem, luring victims into Zoom meetings under the pretense of investment discussions. During the meetings, the scammers used AI-generated images of Nailwal, Singh, and fictitious team members (without audio interaction) to deceive attendees into installing malicious software development kits.

Nailwal stated that several entrepreneurs have reached out to him to verify the authenticity of the meetings. Nailwal advised community members not to install unfamiliar software during unsolicited interactions, and he emphasized the importance of operational protocols, urging crypto users to separate wallet signing activities from everyday device usage.