The Hong Kong Securities and Futures Commission warned against Quantum AI, a fraudulent cryptocurrency exchange falsely claiming ties to Tesla CEO Elon Musk.
The Hong Kong Securities and Futures Commission issued a warning against Quantum AI, an entity that claims to offer artificial intelligence -based crypto trading services.
Hong Kong-based Quantum AI claimed direct affiliation with Musk on its now-defunct website. It stated that Musk developed the underlying AI technology for crypto trading. Additionally, the entity was found displaying AI-generated videos and images of Elon Musk on its website and social media handles.Quantum AI of spreading “false and misleading information about itself” through an undisclosed news website.
“It claims on the “news” website that the Hong Kong public has been using its technology to trade in cryptocurrencies and is able to earn “too-good-to-be-true” returns.”that the HKSFC directed the Hong Kong police to block Quantum AI’s website and remove all related social media pages. In total, 23 crypto exchanges have applied for license registration in Hong Kong. The HKSFC stopped accepting crypto license applications in February and directed all unlicensed entities to wind up operations by May's end.
The initiative is also designed to promote and support interoperability among wholesale central bank digital currencies — a type of digital money used among banks and financial institutions.
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