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No, Elon Musk did not create a secret website for trading cryptocurrencies, in which Facebook advertising bots advise you to invest money. Hong Kong's Securities and Futures Commission last week warned of deepfake scams. According to the statement, the group, which calls itself Quantum AI or AI Quantum, is using a fake video of Elon Musk to deceive people. The group should not be confused with NASA's Quantum AI Lab (QuAIL), which researches quantum computing.
Hong Kong figures claim to be providing a cryptocurrency trading service using artificial intelligence. Hong Kong authorities said they suspect the group of providing a front for fraudulent activities related to virtual assets. The warning states that the group used three websites and two Facebook pages to carry out its manipulations.
Authorities said the group used deepfake videos of Elon Musk to mislead victims into making it appear that he was involved in developing the software. Fraudsters have also created a fake “news” website to promote false information about their service. Hong Kong police have closed all websites and social media pages involved.
This isn't the first time scammers have used deepfakes of Musk to scam their victims out of money. In April, a woman from South Korea said she lost $50,000 after communicating with a fake Musk on Instagram. She even had a video call with him, the fake billionaire confessed his love to her.
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Sources: Crypto.news, Business Insider
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