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Hong Kong SFC Issues Warning of Suspected Virtual Asset-Related Fraud in the Name of Quantum AI Providing Cryptocurrency Trading Services with Artificial Intelligence Technology, Possibly Using AI-Generated Deepfake Videos & Photos of Elon Musk as Developer of Quantum AI Technology on Website & Social Media

10th May 2024 | Hong Kong

The Hong Kong Securities & Futures Commission (SFC) has issued a warning of suspected virtual asset-related fraud in the name of Quantum AI providing cryptocurrency trading services with artificial intelligence technology, with Hong Kong SFC suspecting Quantum AI is possibly using AI-generated deepfake videos & photos of Elon Musk and promoting Elon Musk as developer of Quantum AI technology on website & social media.  Hong Kong SFC: “The Securities and Futures Commission (SFC) today warns the public of suspected virtual asset-related fraud involving an entity operating under the name of “Quantum AI” (Note 1).  Quantum AI claims to provide cryptocurrency trading services with its underlying artificial intelligence (AI) technology. The SFC suspects that Quantum AI uses AI-generated deepfake videos and photos of Mr Elon Musk on its website and through social media to deceive the public that Mr Musk is the developer of Quantum AI’s underlying technology.  The SFC also suspects that Quantum AI may have used a “news” website to disseminate false and misleading information about itself and promote its cryptocurrency trading services to the Hong Kong public (Note 2). It claims on the aforesaid website that the Hong Kong public has been using its technology to trade in cryptocurrencies and is able to earn “too-good-to-be-true” returns.  At the SFC’s request, the Hong Kong Police Force has taken steps to block access to the website of Quantum AI and take down relevant social media pages (Note 3). Notwithstanding the action taken, the public should beware that scammers may continue to create websites and social media pages with similar domain names.  The SFC also posted the aforesaid websites on the SFC’s Suspicious Virtual Asset Trading Platforms Alert List on 8 May 2024.  Online investment scams may involve any type of assets and are perpetrated through multiple channels, investors may suffer substantial losses. The SFC once again warns the public to be cautious about “too-good-to-be-true” investment opportunities and advice posted on social media platforms. Investors should stay vigilant and beware of fraud when making investment decisions.”

“ Hong Kong SFC Issues Warning of Suspected Virtual Asset-Related Fraud in the Name of Quantum AI Providing Cryptocurrency Trading Services with Artificial Intelligence Technology, Possibly Using AI-Generated Deepfake Videos & Photos of Elon Musk as Developer of Quantum AI Technology on Website & Social Media “

 



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Notes:

  1. Quantum AI, also known as AI Quantum, operates its website at (1) https://cybercitizens.pro/qN66f5?sub_id_1=lb85d289b-5d46-62&utm_term=111191&t_id=11&sun=0&mbp=0, (2) https://quantumai-uk-new2.investing-shoping.com/?aff_sub=b09da7vktd5bz677, and appears to operate its Facebook groups at (1) https://www.facebook.com/groups/1521907875298950, and (2) https://www.facebook.com/groups/1377417876191347.
  2. The “news” website at https://profitstrategyzowie.com/?gclid=CjwKCAiA8NKtBhBtEiwAq5aX2DubZxX7p2bhihKUZEq2JXo9HWglR9Nw0a-v0jsbMT4tVYbgnG_wABoCrjMQAvD_BwE carried an article of a purported interview with Mr Elon Musk regarding his investment using AI Quantum. This website is no longer accessible.
  3. At the time the SFC requested the Hong Kong Police Force to block access to the relevant websites, the “news” website was already inaccessible. Hence, the SFC only requested the Hong Kong Police Force to block access to the websites which are operated by or appear to be operated by Quantum AI as stated in Note 1.

 

 

Hong Kong SFC Issues Warning of Suspected Virtual Asset-Related Fraud in the Name of Quantum AI Providing Cryptocurrency Trading Services with Artificial Intelligence Technology, Possibly Using AI-Generated Deepfake Videos & Photos of Elon Musk as Developer of Quantum AI Technology on Website & Social Media

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