A multinational firm in Hong Kong was scammed out of $26 million via a deepfake conference call.

AI-generated video and audio were used to convincingly impersonate company executives during the scam.

The scammers successfully convinced the firm to transfer funds to their bank accounts through the orchestrated video conference.

No arrests have been made yet, with investigations into the incident ongoing.

This event underlines the growing threat of deepfake technology being used for fraudulent activities and the risks associated with advanced AI.