Cybertrace has issued a warning over a deceptive deepfake video on Facebook depicting Australian billionaire Andrew Forrest urging viewers to sign up for a sham cryptocurrency trading platform.
The AI-altered footage shows the mining mogul and Fortescue Metals Group founder promoting “Quantum AI” – a front for financial fraud per the cyber firm. It tries convincing targets they can easily earn over $2,000 daily in crypto markets.
Cybertrace CEO Dan Halpin believes the polished ruse will likely fool many, reflecting adept sales and marketing knowledge by the scammers. Deepfakes imitating other high-profile Aussie business personalities have emerged as well amid surging local crypto investment scam losses.
The sophisticated fakes aim to manipulate Forrest’s mannerisms and speech from an October 2023 fireside chat. The tech can produce alarmingly realistic fraud but has raised legal concerns recently over fake celebrity imagery in the U.S.
As deepfakes and crypto innovation accelerate in tandem, Expect more blending of the two technologies – sometimes for illicit endings. But for now, the most significant risk remains AI-powered social engineering that plays on human psychology rather than exploitable technical flaws.
#Deepfake #Cryptocurrency #Scam #Australia #Cybersecurity
