The Hong Kong Securities and Futures Commission issued a warning last week about deepfake scams.
Related storiesAs the technology behind artificial intelligence advances, scammers are increasingly using deepfakes to dupe their victims into handing over cash.
The group in Hong Kong claimed to provide a cryptocurrency trading service using underlying artificial intelligence.
But Hong Kong authorities said they suspect it is a front for "virtual asset related fraudulent activities."
The Hong Kong Police Force did not return a request for comment from BI.
Persons:
—, Elon, Elon Musk
Organizations:
Service, Facebook, The Hong Kong Securities, Futures Commission, Business, Yahoo, Authorities, Hong, Crypto News, Hong Kong Police Force
Locations:
The, Hong Kong, South Korean