ANDREW FORREST DEEPFAKE PROMOTES SCAM CRYPTO SITE ON FACEBOOK 

A new deepfake video featuring Australian mining magnate Andrew “Twiggy” Forrest on Facebook has sparked criticism and concerns about the platform’s handling of scams. The doctored clip portrays Forrest endorsing a fake cryptocurrency trading platform, adding to a series of deepfakes used in deceptive advertisements that erode trust in media.

The video encourages viewers to sign up for the fraudulent platform, promising substantial daily earnings for “regular individuals.” The platform in question, “Quantum AI,” has gained a reputation for hosting scams and financial deceit, according to cybersecurity firm Cybertrace.

The deepfake video altered Forrest’s actions and mannerisms, taken from a “fireside chat” hosted by the Rhodes Trust in October 2023. Cybertrace identified the deepfake on Facebook on January 27th, and it has been circulating online.

Despite parent company ‘Meta’ implementing a prohibition on deepfakes in early 2020, such doctored clips continue to circulate on Facebook and Instagram. Forrest criticized the social media giant for not taking sufficient action to prevent scams, especially given that he has pending legal charges against Facebook for another crypto advertising scam that allegedly exploited his image.

Forrest expressed his frustration, stating, “Facebook does nothing – that’s what I hope the legal actions I started will address, to make social media companies liable for the negligent way they run their ad platforms. I commenced legal proceedings almost two years ago out of concern for the innocent Australians being scammed on Facebook.”

The rise of deepfake scammers is a growing concern. MicroStrategy founder Michael Saylor revealed that his team works daily to remove approximately 80 counterfeit videos, many of which endorse various Bitcoin scams. Videos featuring well-known figures like Elon Musk have also emerged on social media, often containing links to investment schemes or unauthorized products.

Deepfake videos generated using artificial intelligence (AI) pose a significant security threat worldwide. Data indicates a surge in the proportion of deepfakes in North America from 2022 to Q1 2023, highlighting the need for robust deepfake detection technologies in modern verification and anti-fraud systems.

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