Hong Kong officials have warned of a fraudulent cryptocurrency scheme using deepfakes of Elon Musk to defraud investors.
Crypto Scam
Introduction to the Scam
Hong Kong officials are warning the public against a cryptocurrency scam perpetrated by a group calling itself Quantum AI or AI Quantum. Attackers are using doctored videos featuring Elon Musk to mislead potential victims into investing in a bogus cryptocurrency trading platform.
Activities of scammers
According to the regulator, scammers claim to offer cryptocurrency trading services using artificial intelligence. However, in reality, they created a front for illegal activities related to virtual assets. Fraudsters used three websites and two Facebook pages to spread deceptive information and attract victims.
Use of deepfakes
One of the key elements of the scheme was the use of fake videos of Elon Musk, which was meant to give the impression that he was involved in software development. In addition, the attackers created a fake news site to promote false information about their service. Hong Kong authorities have blocked all web resources and social media accounts related to the scam.
Previous Cases
This incident is not an isolated case of Elon Musk using deepfakes to deceive victims. Earlier in April, a woman from South Korea lost $50,000 after communicating with a fake Musk on Instagram, who even confessed his love to her during a video call.
Glossary
- Elon Musk is a famous American entrepreneur, engineer and billionaire, founder of Tesla, SpaceX and Neuralink.
- Deepfake is a synthetic media in which an image or video of a person is replaced or created using artificial intelligence.
- Cryptocurrency is a digital currency based on cryptographic principles that ensure the security of transactions.
- Artificial intelligence (AI) is a field of computer science that studies the creation of intelligent machines and programs.
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Questions answered
Why did the Hong Kong government warn about the dangers of the Quantum AI or AI Quantum project?
What methods have Quantum AI scammers used to scam people?
How is Quantum AI Group different from NASA Quantum AI Lab (QuAIL)?
What measures have the Hong Kong authorities taken against the Quantum AI group?
Is this the first time Elon Musk has used deepfakes to deceive people?
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Discussion of the topic – Hong Kong-based crypto exchange created a deepfake of Elon Musk for advertising
Hong Kong regulators have identified a fraudulent scheme using a fake video of Elon Musk to attract investors to a cryptocurrency project.
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Дмитрий
😲 What news! I had no idea that scammers could use such advanced technologies as deepfakes to deceive people. A very dangerous practice that can greatly harm trust in the crypto industry.
Эмма
👀 Yes, deepfakes are a serious threat. I remember a few years ago there was a scandal with a fake video of Barack Obama. Technology was far from perfect then, but now it has become so realistic that it is becoming increasingly difficult to distinguish truth from lies.
Франц
🤔 In my opinion, such fraudulent schemes could have been foreseen. The cryptocurrency market has become very profitable, and therefore attractive to all kinds of scammers. It's a pity that people fall for this bait.
Ганс
😒 What nonsense, why listen to all sorts of strangers on the Internet and invest money in incomprehensible schemes? Isn't this an obvious deception? People themselves are to blame when they are deceived due to greed and gullibility.
Анна
🤨 I don’t agree with you, Hans. Fraudsters use cunning psychological tricks and the latest technology to deceive people. In addition, in the story with the South Korean woman, the fake Musk even confessed his love to her via video call - not only greed, but also feelings are involved.
Франц
👍 Anna is right. Fraudsters use every possible trick to gain the trust of their victims. Spreading misinformation through fake media and social networks is another way of manipulation.
Ганс
😡 Useless modern inventions and technologies only harm people. In my time, no one listened to strangers on the Internet, much less invested money in fraudulent schemes. All these newfangled things do more harm than good.
Эмма
🤔 New technologies, of course, open up opportunities for fraud, but at the same time they help fight it. For example, using the same deepfake detectors, you can recognize fake videos.