Recently, there have been an extensive amount of advertisements flaunting on Instagram and Facebook about Quantum AI.
A trading application that claims to help out people with cryptocurrency trading and offers profitable investments with guaranteed returns using Artificial Intelligence.
These ads have been gaining attention mainly due to the Quantum AI claiming involvement of Elon Musk (CEO of Tesla Motors) in the platform.
However, there have been reports across the US, UK, and Australia of people being scammed by this trading platform. In this article, we will talk about What is Elon Musk’s Quantum AI Crypto Scam. So, let’s begin.
Overview of the Quantum AI Crypto Scam
Quantum AI was first introduced back in May 2023, and exactly a month later social media platforms such as Instagram and Facebook were extensively filled with their ads.
At first, users were unable to see through the scam, since it included various images and videos of business magnate and investor Elon Musk. This resulted in many people falling into their trap easily.
Quantum AI not only illegally used the name of Elon Musk in their scam, but has also stated to have investment schemes. Due to this, various users were easily tricked and were taken to a site named ‘TradeSmartInvestment.com’ with Quantum AI as an entity.
It utilizes Artificial Intelligence to make CDFs trading on a web-based program. Most of the victims have fallen under this trap since Elon Musk has been portrayed as an owner.
Most of the people liable to suffer from this scam were from the United Kingdom, United States, and Australia. Few users even received an invitation for TradeSmartInvestment.com through Whatsapp.
Is Quantum AI Trustworthy?
Quantum AI is not trustworthy as there have been various scams across Australia, United Kingdom, and the United States linked in the name of Quantum AI. Investing in Quantum AI can result in you losing your hard-earned money.
Does Elon Musk Own Quantum AI?
No, Elon Musk doesn’t own Quantum AI or any of its compatriots. Musk’s name was illegally used by Quantum AI to trick and scam people.
For now, there is no information on who actually owns Quantum AI. Most of the companies and organizations associated with it don’t actually exist and have been created under fake names.
How the Quantum AI Crypto Scam Works?
The Quantum AI Crypto Scam is a well-thought trap set by scammers. This scam will work the moment you click on any of their ads or links circulated on Instagram, Facebook, or even WhatsApp.
The moment you click on the ad, you will be navigated to their website called ‘TradeSmartInvestment.com.’ At first, the website will appear completely legitimate and you will find Elon Musk’s name used all across the site.
Along with various claims about their associations with some of the top brokers across the United Kingdom. You will further be explained how profitable your investments can become with Quantum AI, and you might find yourself drawn towards it quickly.
Once you are convinced and move forward with the deposits, two scenarios are likely to take place. You will either witness losing all the deposited money or the website will disappear.
This is how the Quantum AI Crypto Scam Works and it’s recommended to be extremely careful if you ever by mistake come across their website.
Red Flags to Spot the Quantum AI Scam
Here are some of the potential red flags to spot in Quantum AI Scams:
1. Government registered – Any financial company that offers trading services is required to be government registered. Which should be verified by users before investing their hard-earned money.
2. Suspicious Company Details – Professional companies always showcase their team members, offices, and accomplishments with pride. If you witness any missing pieces on the official site there is a high chance it’s a fake trading platform. Especially the ones that don’t contain any details about their employees, leaders, and founders. It is better to stay away from such platforms.
3. Return Guarantees – No legal investment platform that promises or makes claims about bringing returns since it’s always unexpected. No one can precisely predict prices, not even Artificial Intelligence. Hence, any site claiming return guarantees is a red flag.
4. Invites through Whatsapp or Telegram – Trading platforms that contain WhatsApp or Telegram groups are highly going to redirect you to banned or scam pages and sites.
5. Elon Musk association – Businessmen and investor Elon Musk has been connected to various startups and companies. However, Quantum AI is not claimed to be one of those. If you ever come across any site making such fake claims, you should immediately exit the site.
Avoiding Cryptocurrency Investment Scams
Scams related to cryptocurrency and other investments are highly common among users.
However, there are a few ways through which you can protect yourself from falling into such scams. Below we have mentioned ways through which you can avoid cryptocurrency investment scams:
1. Look for Transparency – A legal organization would have complete details about its employees, founder, origin, and leaders. Any platform that hides or lies about its origin is most likely a fraud.
2. Guarantee return claims – No trading platform or person can promise a guaranteed return when it comes to investments. So, any platform claiming a 100% guaranteed return is most probably a scam.
3. Verify celebrity endorsement – If you witness any celebrity on the ads or website, you must verify it through their social media to confirm whether the endorsement is true or not. Since most fake platforms tend to use celebrity connections illegally to endorse their platform.
4. Perform research about the company – No matter where you heard about the platform. It’s always better to perform thorough research on the organization for your safety.
5. Look out for the news – If you have any doubts about the platform, then you must check out for stories and scams about the platform on the internet under the latest cryptocurrency news.
What to Do if You Are a Victim of the Quantum AI Scam?
If you are a victim of a Quantum AI Scam, then here are a few things you can do:
1. Report to Authorities – If you have been scammed by Quantum AI, it’s important you immediately report your scam to the local police station. You need to file a complaint at the FTC (Federal Trade Commission) and SEC (Securities and Exchange Commission).
2. Block Scammers – You must quickly block the scammers from everywhere during the entire scam procedure to avoid any further damage. Instantly collect all the contact information of the scammer and share it with the authorities.
3. Contact your Bank – Another thing you should do is contact your bank and stop the transaction from taking place.
4. Appoint a Lawyer – If there are heavy losses then it’s recommended to appoint a lawyer for yourself and consult legal advice for making claims from government schemes and rules.
5. Spread the news – You must alert your family and friends about the website, prevent them from making the same mistake, and share your story.
Frequently Asked Questions
Is Quantum AI real?
Quantum AI is an advanced state-of-the-art computing service from Google that helps develop tools for research. However, the scams related to it are not related to it.
Most of these sites are using the name “Quantum AI” as a trading platform and illegally portraying Elon Musk as their supporter to scam people.
Is Elon Musk associated with Quantum AI?
No, Elon Musk is not associated with Quantum AI and all the claims of Musk’s involvement in Quantum are completely fake.
How do the scammers contact victims?
Quantum AI uses advertisements on popular social media platforms like Instagram and Facebook to contact victims. It also shares its website links through WhatsApp and Telegram.
Once you click on the advertisement or link shared in your Whatsapp or Telegram group you will be navigated to their sign-up page. Here your personal information can be stolen and if you deposit money through their website your bank details will be shared.
Can the scammers be traced?
It is difficult to trace these scammers since they use fake names while creating these sites. However, after multiple victims reported the scam from the US, UK, and Australia, an investigation has been under process.
Does reporting the scam really help?
Yes, reporting the scam can be really helpful as this can spread awareness, alert the authorities, and provide information through which they can begin an investigation.
It’s extremely important to alert authorities and your family and friends if you even come across such a scam to prevent them from becoming another victim.
How much money can I make with Quantum AI?
Unfortunately, you will not make any money from Quantum AI since it’s a scam site that utilizes complex jargon to trick those users who aren’t very familiar with the tech-savvy.
This site has been illegally using Elon Musk’s name illegally to gain users’ trust and trick them into investing. So, we would recommend avoiding investing any money in Quantum AI and instead consider using a trusted trading platform.
How much does it cost to invest in Quantum AI?
Quantum AI has a minimum investment charge of $250. However, there has been a constant rise in scam reports against Quantum AI.
Therefore, it’s recommended to avoid investing your hard-earned money on this platform. Users should do deep research and think before investing in any trading platform.
Is quantum technology worth it?
No, Quantum technology is not worth it, this technology is nothing but a crafted scam created to trick people and lure investors. It has already scammed various victims, by making large promises and using Elon Musk’s name and reputation to gain users’ trust.
What are the benefits of Quantum AI?
There are absolutely no benefits of Quantum AI, instead, there is a high chance you will lose your money if you invest in this platform.
This platform makes fake promises regarding their returns and profits to scam users and uses the names of legitimate businessmen and investors to gain users’ trust. You should avoid signing up for any of these fake trading platforms as it can put your personal information at risk.
Quantum AI is a scam and users should avoid clicking on their advertisements or links shared on their social media platforms. Investing in Quantum AI can result in the loss of money and personal information.
Plenty of people across the UK, US, and Australia have already witnessed this scam. Above we have mentioned ways through which you can avoid cryptocurrency investment scams along with things you can do if you encounter any such scams.
Therefore, please be careful with such trading platforms and inform others regarding the same.