**Hong Kong Police Bust $46M Crypto Scam Using AI Deepfakes**

Hong Kong police have dismantled a major scam operation, arresting 27 individuals accused of using AI deepfakes to defraud victims of over $46 million through a crypto romance investment scheme.

- The scammers used AI-generated deepfakes to create fake romantic relationships, luring victims into fraudulent crypto investments.

- The operation was based in a 4,000-square-foot industrial building in Hung Hom and primarily targeted men from mainland China, Taiwan, India, and Singapore.

- Local university grads and overseas IT pros were recruited to develop a fake crypto platform and training manuals for the scam.

- Police seized computers, luxury watches, and over 100 mobile phones during the raid.

- The accused, aged 21 to 34, face charges of conspiracy to defraud and possession of offensive weapons.

This bust highlights the growing sophistication of crypto scams, with AI deepfakes becoming a new tool for fraudsters.