Description: Two Canadian investors in Ontario and Prince Edward Island reportedly lost a combined $2.3 million after being deceived by purportedly AI-generated deepfake videos impersonating Elon Musk and the television program Dragon's Den. The reported videos and fabricated online dashboards allegedly persuaded the victims to transfer funds into a fraudulent cryptocurrency investment scheme that displayed fake profits and blocked withdrawals.
Entities
View all entitiesAlleged: Unknown voice cloning technology developers and Unknown deepfake technology developers developed an AI system deployed by Unknown scammers impersonating Elon Musk and Unknown scammers, which harmed Unnamed resident from Prince Edward Island , Unnamed resident from Markham, Ontario , General public of Canada , General public , Elon Musk , Dragon's Den , Canadian investors and Epistemic integrity.
Alleged implicated AI systems: Unknown voice cloning technology and Unknown deepfake technology
Incident Stats
Incident ID
1325
Report Count
2
Incident Date
2025-12-21
Editors
Daniel Atherton
Incident Reports
Reports Timeline
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Two Canadians from Ontario and Prince Edward Island lost a combined $2.3 million to an AI-enabled deepfake cryptocurrency investment scheme. The Ontario victim lost $1.7 million after being deceived by a fake Elon Musk video, while the othe…
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Emma Ansah reports on a devastating case out of Ontario that shows just how dangerous AI-driven fraud has become. A Black woman was scammed out of $1.7 million after falling for a highly sophisticated crypto scheme powered by an Elon Musk d…
Variants
A "variant" is an AI incident similar to a known case—it has the same causes, harms, and AI system. Instead of listing it separately, we group it under the first reported incident. Unlike other incidents, variants do not need to have been reported outside the AIID. Learn more from the research paper.
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