Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

27 Arrested in Hong Kong Deepfake Scam

October 15, 2024
Reading Time: 2 mins read
in News
27 Arrested in Hong Kong Deepfake Scam

Hong Kong police have made significant strides in combating a complex deepfake romance scam that has defrauded victims of approximately $46 million through fake cryptocurrency investments. The police’s recent crackdown resulted in the arrest of 27 individuals, including university graduates and suspected members of the Sun Yee On triad. This criminal syndicate employed advanced deepfake technology to create convincing online identities, primarily targeting victims from Hong Kong, Singapore, and mainland China. The scheme operated by establishing fake trading platforms that lured individuals into investing in non-existent cryptocurrency ventures.

The mechanics of the scam relied heavily on manipulation and deception. Scammers posed as attractive women, initiating online relationships with unsuspecting men to build trust. These scammers utilized AI-generated images to represent themselves and even employed deepfake technology during video calls, making it appear as though they were the women they portrayed. Once trust was established, victims were persuaded to invest in what they believed were legitimate cryptocurrency platforms, often shown fabricated transaction records to convince them of their profits.

Senior Superintendent Fang Chi-kin, who leads the New Territories South regional crime unit, noted that the fraudsters divided their operations into distinct roles, including scam management, technical support, and accounting. Recruits, frequently university graduates, were specifically trained to manage relationships with English-speaking or Mandarin-speaking victims, equipped with manuals detailing strategies for building trust. Each member of the syndicate potentially earned substantial monthly salaries, with some individuals making over HK$100,000, further incentivizing their participation in the scam.

As authorities continue their investigations, the rise of AI technology poses increasing challenges in combating such sophisticated scams. Romance scams have become a growing concern, with agencies like the U.S. Federal Trade Commission highlighting their prevalence, particularly in cryptocurrency contexts. A recent study indicated that romance scams have resulted in over $75 billion in losses from January 2020 to February 2024. With the ongoing operations of crime syndicates leveraging technology to deceive, the public is urged to remain vigilant against these evolving threats.

Reference:

  • Hong Kong Police Arrest 27 in $46 Million Deepfake Crypto Romance Scam Operation
Tags: ChinaCryptocurrenciesCyber NewsCyber News 2024Cyber threatsCybercrimeDeepfakeHong KongOctober 2024ScamsSingapore
ADVERTISEMENT

Related Posts

Cybercriminals Trade 183M Stolen Logins

F5 Faces Revenue Hit From Cyber Attack

October 28, 2025
Cybercriminals Trade 183M Stolen Logins

Google Denies Massive Gmail Breach

October 28, 2025
Cybercriminals Trade 183M Stolen Logins

Cybercriminals Trade 183M Stolen Logins

October 28, 2025
Ransomware Payments Fall In Q3 2025

Ransomware Payments Fall In Q3 2025

October 28, 2025
Ransomware Payments Fall In Q3 2025

Teens Face Court Over TfL Cyber Attack

October 28, 2025
Ransomware Payments Fall In Q3 2025

Fortinet Faces Securities Fraud Claims

October 28, 2025

Latest Alerts

Fake LastPass Death Claims Breach Vaults

ChatGPT Atlas Browser Fooled By Fake Url

Chrome Zero Day Delivers LeetAgent

Smishing Triad Tied To Global Phishing

Qilin Ransomware Uses Hybrid Attack

Hackers Exploit Outdated WordPress Plugins

Subscribe to our newsletter

    Latest Incidents

    Google Contractor Steals Play Files

    Vibra Hospital Data Breach Probe

    Hackers Target Swedish Power Grid

    Ex-L3Harris Cyber Boss Charged With Espionage

    Safepay Hits Xortec Video Surveillance Firm

    Hackers Breach Verstappen Data

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial