Related deepfake videos have appeared on Facebook, encouraging users to sign up for a fraudulent platform that claims to allow "ordinary people" to make thousands of dollars every day. According to Cybertrace, victims of the scam are directed to a website called "Quantum AI," which has been linked to scams and financial fraud.
Cybertrace CEO Dan Halpin expressed concern that people might be fooled by such deepfake scams, noting that the scammers behind them appear to be well-versed in sales and marketing. He mentioned that the video should be long and somewhat repetitive in order to be convincing.
In the video, an artificially intelligent-engineered version of Andrew Forrest attempts to manipulate his behavior and body language based on a "fireside chat" Forrest gave to the Rhodes Trust last October. The altered video showed Forrest promoting a fake cryptocurrency trading software, claiming it could bring regular people substantial profits regardless of market conditions.
Andrew Forrest is the former CEO of Western Australian mining company Fortescue Metals Group and is one of Australia's most successful entrepreneurs with a net worth of $29.4 billion, according to Bloomberg.
Australian Billionaire Andrew Forrest’s Deep Fake Video Promotes Cryptocurrency Scam
Due to the recent increase in deepfake fraud, Cybertrace reminds users to exercise caution. The trend of impersonating high-profile Australian business figures and politicians through deepfake videos is rising, with scammers targeting individuals including Gina Rinehart, Dick Smith and Allison Langdon.
The surge in deepfake scams comes amid reports Australians lost more than $US2 billion (AU$3.1 billion) to scams in 2022, according to Australia's competition and consumer regulator. Additionally, investment scams involving cryptocurrencies as a method of payment resulted in US$148.3 million (AU$221.3 million) in losses in 2022, a 162.4% increase from the previous year.
