Preying on Victims Through DeepFake

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Hey folks.

Exploiting the rapid advancements in the technology of Artificial intelligence, scammers have turned to deepfake increasingly as a way to cheat people and steal their hard earned money.

Deepfakes are realistic video or audio clips that are produced by employing artificial intelligence algorithms to successfully mimic the speech and facial expressions of a targeted human.

In order to establish video calls with their victims, scammers employ deepfakes. They use software to change their own appearance and imitate the identity of the person they are impersonating.

The group from Hong Kong involved in this case stated that they provided cryptocurrency trading services supported by cutting-edge artificial intelligence. Authorities believe, nonetheless, that the operation was a front for committing financial crimes involving virtual assets.

To give legitimacy to their scheme, deepfake videos were employed by the scammers featuring Elon Musk which wrongly portray him as the developer behind their technology.

To carry out their crypto scams, the group utilized three websites and two Facebook pages, stated in the warning issued by the authorities.

Going far they even created a counterfeit "news" website to spread false information about their services in an effort to trick more people into becoming victims.

Taking a quick action, the Hong Kong police closed down all the websites and social media groups related to the group. However, to what extent the scam has caused the damage, is unknown.

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Posted Using InLeo Alpha

Posted Using InLeo Alpha