A fraudulent scheme has been exposed in Asia, where over $46 million was stolen using deepfakes.
In Asia, a group of scammers used artificial intelligence to swindle men out of more than $46 million, CNN reports.
Hong Kong police arrested 20 people, including digital media and technology graduates. Fraudsters use deepfakes—realistic fake videos and audio—to create fake romantic relationships with their victims.
Starting with simple text messages, they start online romances and then convince men to invest in a fake cryptocurrency platform. The scam has affected men from Taiwan to India. Police seized more than 100 cellphones and $26,000 in cash in the raid.
It was previously reported that Americans lost more than $5.6 billion to fraudulent schemes involving cryptocurrencies last year.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.