Cybersecurity firm Cybertrace has issued a warning regarding a highly convincing deepfake video featuring Australian mining magnate and businessman Andrew 'Twiggy' Forrest. In the video, Forrest is seen promoting a fake crypto trading platform on social media.
The deepfake video surfaced on Facebook, urging users to sign up for a fraudulent platform promising to make "ordinary people" thousands of dollars daily. Victims are directed to a website called "Quantum AI," a name associated with scams and financial fraud, according to Cybertrace.
Cybertrace's CEO, Dan Halpin, noted the "convincing" nature of the deepfake, speculating that the scammers behind it are well-versed in sales and marketing. The video is lengthy and repetitive, designed to deceive unsuspecting viewers.
The deepfake manipulates Forrest's behavior and body language from a legitimate "fireside chat" conducted by Rhodes Trust in October. It attempts to convince viewers to join the crypto trading platform, promising substantial profits regardless of market conditions.
Andrew Forrest, a former CEO of Western Australian mining firm Fortescue Metals Group, is one of Australia's most successful entrepreneurs, with a net worth of $29.4 billion, as reported by Bloomberg.
Deepfake scams have been on the rise, targeting high-profile individuals. Australian business figures and politicians have also fallen victim to similar scams, as scammers create convincing deepfake videos. These incidents come amid reports of Australians losing significant sums to scams, with cryptocurrency-related scams showing a sharp increase.
As the threat of deepfake scams continues to grow, users are urged to exercise caution and verify the authenticity of online content, especially when faced with lucrative offers that seem too good to be true.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
