Cryptocurrency investors
Incidents Harmed By
Incident 123624 Report
Quantum AI Scam Reportedly Used AI-Generated Celebrity Endorsements and Spoofed Media Sites to Solicit Investments
2020-01-01
A global investment fraud network known as Quantum AI has reportedly used AI-generated deepfake videos, fake news sites, phishing pages, and spoofed calls to deceive victims. The scheme allegedly impersonates celebrities, news outlets, and political leaders to promote fraudulent trading platforms, leading targets to transfer money they cannot recover. Investigations suggest coordinated operations across multiple countries and platforms.
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Fraudsters Use Deepfake Video of Tim Cook to Promote Apple Crypto Scam on YouTube
2022-09-07
Fraudsters repurposed an old interview with Apple CEO Tim Cook using AI or video editing to promote a fake crypto event on YouTube. The altered video was designed to mislead viewers into believing Tim Cook endorsed a new cryptocurrency scheme. The stream attracted tens of thousands of viewers, potentially exposing them to the scam before it was removed for violating YouTube’s terms of service.
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ProKYC Tool Allegedly Facilitates Deepfake-Based Account Fraud on Cryptocurrency Exchanges
2024-10-09
Cato CTRL security researchers reported that the cybercriminal group ProKYC is selling a deepfake tool capable of bypassing biometric and two-factor authentication (2FA) systems on cryptocurrency exchanges. The tool creates synthetic identities using AI-generated videos and forged documents, enabling fraudulent account creation. A demo video from ProKYC shows the tool in action against ByBit, allowing attackers to verify fake accounts for purposes such as money laundering and identity theft.
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Chicago Veteran Reportedly Loses $10,000 in Purported Deepfake Cryptocurrency Fraud Posing as Elon Musk
2025-07-07
A Chicago-area Vietnam War veteran, Richard Lyons, reportedly lost $10,000 to a cryptocurrency scam that used purported AI voice cloning and fake social media profiles to impersonate Elon Musk. The fraudster allegedly convinced Lyons to invest in bogus cryptocurrency opportunities using fake voice memos, images, and spoofed caller IDs showing "Elon Musk." The scam reportedly involved dozens of messages and deepfake audio files that reinforced the impersonation.
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