On 27 January 2024, Cybertrace identified another sophisticated Instagram ad scam featuring deepfake technology to mimic Australian icon billionaire, Andrew Forrest. At the heart of this deceit is QuantumAI, a name that’s fast becoming synonymous with cyber deception and financial fraud. QuantumAI was also responsible for several recent deepfake videos targetting other Australian celebrities such as Dick Smith, Gina Rinehart, and Allison Langdon.
Is QuantumAI a Scam?
QuantumAI, a brand known for its crypto marketing ads, has been unmasked as the puppeteer behind a series of compelling yet fraudulent campaigns. By enticing users with the promise of lucrative crypto investments, QuantumAI cleverly captures personal contact details under the guise of genuine opportunity. However, the reality is far more nefarious; these details are sold to scam operations across the globe, particularly those specialising in financial investment scams.
A Pattern of Deception
This isn’t the first time that deepfake technology has been weaponised by scammers, but the involvement of high-profile Australian figures marks a concerning escalation. The same criminal minds behind the recent impersonations of notable Australians are exploiting QuantumAI’s brand to lend credibility to their schemes. These deepfakes are alarmingly convincing, leveraging advanced AI to synthesise voice and imagery, thus manipulating viewers into believing in their authenticity.
Cybertrace’s identification of this latest scam wave underscores the critical need for vigilance in the digital age. As deepfake technology becomes more accessible and sophisticated, the potential for misuse escalates. The targeting of Australian figures by QuantumAI is a stark reminder of the lengths to which scammers will go to exploit trust and credibility.
How Easy is it?
To understand how easy it is to create a convincing deepfake using AI, we created our own short version. Check it out.
Staying Safe in the Digital Age
To navigate this treacherous landscape, individuals must arm themselves with knowledge and scepticism. Here are some tips to safeguard against such scams:
Verify Sources: Always check the authenticity of investment opportunities through verified channels.
Guard Personal Information: Be cautious about sharing contact details, especially in response to unsolicited offers.
Stay Informed: Educate yourself about the latest scam tactics and technological threats.
The emergence of the QuantumAI scam, backed by the misuse of deepfake technology, is a clarion call for increased awareness and action against cyber fraud. As we continue to enjoy the benefits of digital innovation, let us also commit to vigilance, ensuring that technology remains a force for good, not a tool for deception.
At Cybertrace, we are dedicated to unmasking these digital deceptions and safeguarding the digital landscape. Stay informed, stay sceptical, and together, we can combat the scourge of cyber scams.
Note: Our original article referenced Facebook as the source of this scam, however, further anaylsis confirmed that Meta-owned Instagram was the actual source. Our article has been updated to reflect this source correction.
Tags: Andrew Forrest, Deepfake, QuantumAI, Scam