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    Vikshita Vitthal Gujaran in Crypto News

    02 Feb 01:00 PM


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    Cybertrace warns of deep fake crypto scam featuring Aussie billionaire

    Cybertrace’s CEO Dan Halpin speculates that the crypto scammers are likely well-versed in sales and marketing based on the convincing ruse.

    Cybersecurity firm Cybertrace has published a warning over a convincing deep fake video of Australian mining magnate and businessman Andrew “Twiggy” Forrest promoting a fake crypto trading platform on social media.

    The video emerged on Facebook, urging users to sign up for a fraudulent platform that purports to make “ordinary people” thousands of dollars daily. Potential victims are reportedly taken to a website called “Quantum AI,” which Cybertrace says has become a synonymous name associated with scams and financial fraud.

    Cybertrace CEO Dan Halpin commented to The Australian that he believes “people will be fooled by this deepfake,” as the scammers appeared trained in sales.

    “The video is long and in many ways repetitive, which can be quite convincing, and appears to have been created by someone with knowledge of sales and marketing,” he added.

    The fake video attempts to manipulate Forrest’s behavior and body language from a “fireside chat” conducted by Rhodes Trust in October 2023.

    Cybertrace said it detected the deep fake on Facebook on Jan. 27, where an artificial intelligence (AI)-altered version of the billionaire can be seen promoting a fake crypto trading software.

    “I want to give you the chance of a lifetime by joining me and my team as a partner in the world's smartest stock and cryptocurrency trading software that makes money [...] regardless of market conditions,” the AI-altered version of Forrest promised.

    “It has been making ordinary people just like you $700 to $2,200 in profit a day for 9 months now without any problems, and pretty soon [it’ll] be doing the same for you.”
    Forrest is a former CEO of Western Australian mining firm Fortescue Metals Group. He is one of Australia’s most successful entrepreneurs, boasting a net worth of $29.4 billion, according to Bloomberg.

    The scam footage concludes with Forrest urging viewers to sign up to the platform before it’s too late.

    Cybertrace warned users to be extra cautious amid a recent spike in AI deep fake fraud.

    Source - Coin Telegraph