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Hong Kong police have uncovered the activities of a local fraudulent cybersyndicate that used deepfake technology to lure victims into bogus crypto investment schemes.
On Monday, October 14, Hong Kong police reported the arrest of 27 people, including university graduates, recruited by the syndicate to create fake trading platforms and websites of fictitious crypto companies. Most of the syndicate members were between the ages of 21 and 34.
According to law enforcement officers, in October last year, the cybersyndicate opened its operational center in Hong Kong's industrial district and began recruiting employees from among graduates of technological universities.
Criminals found their victims through social networks and dating sites, where they used deepfake technology during video calls to replace their faces with the faces of attractive women. After the criminals reached a trusting level of communication with their victims, they offered them to "invest in high-yield cryptocurrencies".
According to police, among the victims of the scammers were men from Hong Kong, mainland China, Taiwan, India and Singapore. Their total damage amounted to more than HK$360 million ($46 million). During the search, the police found a scoreboard that noted the results of the competition between the cybersyndicate members who deceived the largest number of victims.
"The results were listed on the blackboard for public viewing. Whoever topped the list last month received a $266,000 bonus", a police spokesman said.
Source
On Monday, October 14, Hong Kong police reported the arrest of 27 people, including university graduates, recruited by the syndicate to create fake trading platforms and websites of fictitious crypto companies. Most of the syndicate members were between the ages of 21 and 34.
According to law enforcement officers, in October last year, the cybersyndicate opened its operational center in Hong Kong's industrial district and began recruiting employees from among graduates of technological universities.
Criminals found their victims through social networks and dating sites, where they used deepfake technology during video calls to replace their faces with the faces of attractive women. After the criminals reached a trusting level of communication with their victims, they offered them to "invest in high-yield cryptocurrencies".
According to police, among the victims of the scammers were men from Hong Kong, mainland China, Taiwan, India and Singapore. Their total damage amounted to more than HK$360 million ($46 million). During the search, the police found a scoreboard that noted the results of the competition between the cybersyndicate members who deceived the largest number of victims.
"The results were listed on the blackboard for public viewing. Whoever topped the list last month received a $266,000 bonus", a police spokesman said.
Source
