Hong Kong authorities have uncovered a cryptocurrency scam using Elon Musk's deepfake. Authorities have shut down an unlicensed and fake cryptocurrency exchange that claimed to be directly affiliated with Elon Musk.
🤖🔗 They committed cryptocurrency fraud using Elon Musk:
Hong Kong-based cryptocurrency exchange Quantum AI claimed to have a direct relationship with Elon Musk on its website, which is no longer in use. The company stated that Musk developed core artificial intelligence technologies for crypto trading. Additionally, Elon Musk's artificial intelligence-generated videos and images were displayed on the company's website and social media accounts.
🚨 The Hong Kong Securities and Futures Commission (HKSFC) took immediate action when it noticed this situation. HKSFC issued a statement warning cryptocurrency investors about this scam and instructed the Hong Kong police to close the company's website and social media accounts.
A total of 23 crypto exchanges have applied for license registration in Hong Kong. HKSFC stopped accepting license applications from cryptocurrency exchanges in February and required all unlicensed entities to cease operations by the end of May.
Meanwhile, the Hong Kong Monetary Authority (HKMA) and the Central Bank of Hong Kong are entering the real asset tokenization space by collaborating with local private sector firms such as HSBC and HashKey. 🏦💡
