Bitcoin is making a comeback, so it’s no surprise we are seeing all this hype around this popular digital currency. Scammers are not oblivious to these trends and understand how to use the media and social networks to their attention, and such is the case with the new Quantum AI scam by Elon Musk.

In this latest get-rich-quick crypto scam online promoters have found a clever way to trick their victims. They took actual footage of Elon Musk speaking at a conference, and changed the voice settings. So what people see is Elon Musk speaking about his new trading software, but in reality it’s a voice over. But that’s just a part of a the problem. The real issue has to do with the fact that fake news websites are soliciting innocent victims to join this fraudulent software, and this alarming trend will not stop any time soon.

Crypto scams are divided into four basic types. ICO Scams, Forex, Mining, and Ponzi Schemes. There are also fake Bitcoin faucets, but this is less popular among scammers. Previous scams include the infamous Bitconnect, Bitcoin Code, and Immediate Edge. It’s only a matter of time before regulation starts kicking in and advertising platforms such as Google Ads and Facebook start banning these types of campaigns. But until then it’s the Wild West so do you research and hold on to your wallets because online scams like Quantum AI Elon Musk are getting to be more frequent and a lot more sophisticated.

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Teodora Torrendo is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.

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