The last known photo of Rye Hunt
The family of Australian Rye Hunt are "hopeful but understandably cautious" of reports the 25-year-old has been found alive on an island off Rio de Janeiro, nearly two weeks after going missing. 
In a video posted on YouTube by Brazilian Police on Thursday morning, police spokeswoman Elen Souta said Mr Hunt had swum to Cotunduba Island after taking drugs at a party and suffering a psychotic episode.
Authorities are still trying to confirm the man, who identified himself as Australian, is Mr Hunt.
Cotunduba Island is an uninhabited island, located off the Leme neighbourhood of Rio.
On Thursday morning, Mr Hunt's family said on its Find Rye Hunt Facebook page that the information had not come from their official channels, and that they were awaiting news from Australian authorities.
Mr Hunt, 25, has been missing since   May 21, when he left Galeao International Airport alone in a taxi after an argument with his travelling companion, Mitchell Sheppard, and booked into a Copacabana apartment.
On the night Mr Hunt went missing he left his apartment about 6.20pm leaving behind a laptop, travel bags, a camera and other items.
Reports emerged earlier on Thursday that Mr Hunt had taken "local recreational drugs" before he disappeared, which caused him to become paranoid and anxious.
His family had said it was out of character for Mr Hunt to use illicit drugs.
Mr Hunt's family launched a social media campaign to help find the missing Tasmanian man, and girlfriend Bonnie Cuthbert and his uncle arrived in Rio this week to to join the search.
Fairfax Media, AAP