The Hong Kong Securities and Futures Commission (HKSFC) has warned of a fraudulent crypto exchange, Quantum AI, using AI-generated videos of Elon Musk to promote services. Claiming a connection to Musk and falsely advertising him as lead developer, the platform used deepfake videos to deceive users. Quantum AI also spread false information via a fake news outlet to gain trust. Hong Kong police are cracking down on the platform, shutting down its website and social media. This highlights the increasing use of AI-generated videos in crypto scams and the need for vigilance.