【Hong Kong Police Bust Virtual Currency Scam Group Using Deepfake Technology To Deceive Investors, Involving Approximately 34 Million RMB】 January 5Th, According To Phoenix News, The Hong Kong Police Recently Cracked Down On A Cryptocurrency Investment Fraud Group That Used Deepfake Technology To Deceive Others Through Social Media Platforms, Involving Approximately 34 Million Yuan.The Hong Kong Police'S Commercial Crime Bureau, Based On Intelligence, Arrested 31 People In Two Buildings In Kowloon Bay Last Thursday And Friday, Aged Between 20 And 34, Some Claiming To Be Students And Unemployed Individuals, Involved In The Same Fraud Group, And Seized Their Pre-Written "Scripts."The Hong Kong Police Stated That The Group Would Recruit Young People Who Wanted To "Make Quick Money," Train Them To Create Fake Identities On Dating Platforms, Pretending To Have Good Looks And A Luxurious Lifestyle, Meet People From Overseas, Including Taiwan And East Asia, And Follow A "Script" During Conversations. After Learning About The Other Party'S Background, They Would Cater To Their Interests And Develop A Romantic Relationship Online, Even Conducting Video Calls Using Deepfake Technology, And Then Deceive The Other Party Into Investing In Cryptocurrency, Claiming A Substantial Return, Asking Them To Deposit Funds Into A Fake Platform. Once The Group Received The Cryptocurrency, They Would Transfer It Out Immediately And Cut Off Contact With The Victims.The Police Stated That This Fraud Group Has Been Operating For At Least A Year, With Criminal Proceeds Exceeding 34 Million Yuan.Kong Hing-Hung, Acting Senior Superintendent Of The Hong Kong Commercial Crime Bureau, Said, "They Rented Two Adjacent Buildings Located In Kowloon Bay As Fraud Centers To Diversify Risks And Increase Confidentiality. Most Importantly, We Noticed That These Two Fraud Centers Operate In Shifts Around The Clock To Attract More Victims. Never Think That Participating In Some Criminal Group'S Activities Is A Trivial Matter, Even If You Are Only Assigned To Meet Victims Online And Not Directly Involved In Cryptocurrency Investment Work, It Is Still Illegal."The Hong Kong Police Reminded That Conspiring To Defraud Is A Serious Crime, And Upon Conviction, The Maximum Penalty Is Fourteen Years' Imprisonment. Some Victims Are Located Overseas, And The Fraud Platform Is Not Based In Hong Kong, So Cooperation With Overseas Law Enforcement Agencies Will Continue The Investigation.Reportedly, The Mastermind Of The Fraud Group, The Head, And Key Members Totaling 5 People, Have Been Charged With Conspiracy To Defraud And Money Laundering, And Appeared In The Eastern District Court On Monday