Hong Kong police have dismantled a deepfake romance scam that defrauded individuals of approximately $46 million through fraudulent cryptocurrency investments.
Law enforcement targeted a multinational cryptocurrency romance scam affecting victims in Hong Kong, Singapore, mainland China, and other regions according to a report by local news outlet DotDotNews. The scheme was operated by a fraud syndicate that used deepfakes to mislead their victims.
Authorities arrested 27 individuals, including university graduates and suspected members of the Sun Yee On triad. These individuals allegedly assisted in running the operation by setting up fake trading platforms that deceived victims into investing in counterfeit cryptocurrency ventures.
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Nov 17 2024
