The Hong Kong Securities and Futures Commission has issued a warning regarding deepfake scams infiltrating the cryptocurrency industry. The commission revealed that a group operating under the name Quantum AI or AI Quantum resorted to using deepfake videos of renowned entrepreneur Elon Musk to deceive unsuspecting individuals into believing that he was the mastermind behind the platform. Deepfakes utilize AI algorithms to convincingly mimic the facial expressions and voice of a targeted individual, creating realistic video or audio clips. The Hong Kong-based group implicated in this case claimed to offer cryptocurrency trading services backed by advanced artificial intelligence.
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