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.