$43M deepfake crypto romance scam leads to arrests of Hong Kong university graduates

Hong Kong authorities have identified a fraud syndicate that used deepfake technology to run a $43 million cryptocurrency romance scam. The operation resulted in the arrest of 27 individuals, including well-educated university graduates. According to a local media outlet report, the syndicate has operated from a 4,000-square-foot industrial unit in Hung Hom since October last