08/07/2026
The phone call was routine.
A portfolio company CEO.
Urgent wire authorization.
His voice. His cadence.
Even his habit of clearing his throat before mentioning dollar amounts.
Everything checked out.
It wasn't him. Deepfake fraud losses exceeded $410M in H1 2025 alone.
The BlackRock HPS case? $400M in loans backed by fabricated AI-generated invoices. Voice. Video.
Documents. All compromised. Seeing and hearing are no longer believing.