Cybersecurity specialists at Cybertrace announced the widespread distribution of a new deepfake. In the video, the face of an Australian billionaire advertises the crypto trading platform Quantum AI.
Cybertrace CEO Dan Halpin worries that the scam video could appear very convincing and easily mislead people.. The video completely imitates the appearance and mannerisms of Andrew Forrest.. Pseudo-billionaire talks about cryptocurrency trading software and invites users to join the platform, promising daily earnings “for ordinary people”.
Andrew Forrest is considered one of Australia's most successful entrepreneurs with a net worth of $29.4 billion. This is not the first time Forrest's name has been used by cryptocurrency scammers. In 2022, a businessman filed a lawsuit against Facebook, accusing the social network of condoning scammers posing as a billionaire and posting suspicious advertisements about cryptocurrency investments.. However, the social network did not agree with Forrest’s claims.
Australians lost more than $3 billion on investments in digital assets in 2022 alone. Last year, the Australian Securities and Investments Commission (ASIC) announced it would tighten its crackdown on crypto fraud by requiring industry companies to disclose the risks involved..