Hong Kong Police Uncover Deepfake Cryptocurrency Scam

According to PANews, Hong Kong police have dismantled a criminal group using deepfake technology to deceive individuals into investing in fraudulent cryptocurrency schemes. The scam involved approximately 34 million yuan. The group operated by creating fake identities on social media to gain victims' trust before persuading them to invest in bogus platforms, subsequently transferring the funds quickly. Authorities arrested 31 individuals at a scam center in Kowloon Bay, with five facing charges of conspiracy to defraud and money laundering. The investigation is ongoing.