Cybersecurity firm Cybertrace flagged a deepfake video of Australian businessman Andrew Forrest on Facebook that was promoting a fraudulent crypto trading platform called 'Quantum AI' to scam users.
A deepfake video featuring Australian mining magnate Andrew 'Twiggy' Forrest was discovered on Facebook on January 27th by cybersecurity firm Cybertrace. The AI-generated video altered footage from a Rhodes Trust fireside chat from October 2023, making it appear that Forrest was endorsing a fraudulent cryptocurrency trading platform called 'Quantum AI.' The video encouraged viewers to enroll in the fake platform, claiming it could generate thousands of dollars daily for regular individuals. Cybertrace identified Quantum AI as a known hub for scams and financial deceit. Despite Meta implementing a prohibition on deepfakes in early 2020, such doctored videos continue to target users on Facebook and Instagram. Forrest has criminal charges pending against Facebook for another crypto advertising scam that allegedly exploited his image and expressed frustration that Facebook does nothing to prevent these scams. The incident is part of a broader trend, with MicroStrategy founder Michael Saylor reporting his team removes around 80 counterfeit videos daily, many promoting Bitcoin scams. Data from Sumsub indicated deepfake fraud in North America increased dramatically from 2022 to Q1 2023, rising from 0.2% to 2.6% in the US and from 0.1% to 4.6% in Canada.
Domain classification, causal taxonomy, severity scores, and national security assessments were LLM-classified and may contain errors.
Using AI systems to gain a personal advantage over others such as through cheating, fraud, scams, blackmail or targeted manipulation of beliefs or behavior. Examples include AI-facilitated plagiarism for research or education, impersonating a trusted or fake individual for illegitimate financial benefit, or creating humiliating or sexual imagery.
AI system
Due to a decision or action made by an AI system
Intentional
Due to an expected outcome from pursuing a goal
Post-deployment
Occurring after the AI model has been trained and deployed
No population impact data reported.