Quantum AI: Is That a Scam I Smell?
Chances are, if you are well connected with crypto news and updates, you have been seeing a lot of Quantum AI on your timeline.
According to Elon Musk, Quantum AI is the next big leap. So much so that he has decided to sideline his work with Twitter, SpaceX, and Tesla to dedicate time to this newfound technology that he apparently has been secretly developing for the last three years!
What is more? Alphabet CEO Sundar Pichai has also been testing this technology for two years and already has some gains to boast about.
If any of this sounds real to you, then you owe us a few bucks because we just saved you from getting scammed!
Quantum AI is a trading platform "allegedly" developed by Elon Musk and hyper-marketed as the next big leap in crypto trading through social media advertising campaigns by affiliate marketing.
The trading platform claims that it is faster, stronger, and more secure than anything that has been put on the market yet. Perhaps more than anything, the boast of opening traders to earnings of more than $1,320 in less than five hours of trading and "erasing poverty" through this trading model is what gives it all away.
What even is the Quantum AI scam?
Quantum AI is a trading platform that has been maliciously attacked by groups trying to create multiple fake Quantum AI alternatives under the same name.
Unfortunately for the authentic and real Quantum AI, these alternatives use high-power affiliate marketing tactics to grab and retain customer attention. This has grossly tainted the market positioning of the real Quantum AI.
Even at this moment, you would find tens of Google results on different types of Quantum AI under the same name, many for Google’s own Quantum AI software (which is legitimate, of course).
Why is this happening?
We all know how much AI has emerged into the mainstream since the advent of OpenAI and Chatgpt. Everyone wants to learn more about machine learning and AI these days.
Couple that with one of the highest-grossing branches of physics, "quantum physics", and combined, they offer an attractive soundbite to viewers. As a result, many marketers worldwide use such soundbites to get a higher number of clicks and more market relevance.
As viewership and clicks increase in response to these marketing tactics, scammers catch a whiff of the traffic generated through this kind of nomenclature. As a result, you get a situation such as this, where every Tom, Dick, and Harry with no real knowledge and expertise in either AI or quantum physics can muster up a half-working trading platform and call it Quantum AI.
How were the Quantum AI scams so successful?
A consumerist society with a strong appetite for soundbites failing to regulate new products/markets and make responsible financial decisions is all that scams such as these need to work and succeed.
There are a number of tools that many of these scams employ to make themselves sound as legitimate as possible.
The influence factor - Quantum AI frauds have made use of deep fake technology and have also tampered with pre-existing video recordings of major business tycoons such as Elon Musk, Sundar Pichai, and countless others to make it look as if these celebrities are endorsing and marketing these scams as actual solutions to poverty. Since many people follow these influencers blindly, they do not thoroughly certify the credibility of these campaigns and end up buying into these scams, fueling the sentiment WITH them, and preparing the industry for disaster.
Usage of makeshift trading tools - Using tools such as Signaling Panels, Pivot Tables, TREND analysis software, and even MACDs, many of these fake trading platforms try to work very hard on their visuals so that they can look as appealing as possible to a trader. These tools suggest to a trader that the platform they are trading through is legitimate and uses appropriate protocols.
Riding on the back of trends - Changing legal frameworks, such as acceptance from the European Commission, is an example of new changes in the market that scams like the Quantum AI scam excel at juicing. They can convince the end trader that the recent support rendered to the industry is a proverbial testament to the idea that things will only improve in the market. This is done to put the trader under a false sense of security. As a result, many traders do not realize the scam they are being put into because they hope for good results.
For more on how these scams work, you may find scam crypto robots helpful.
How can you spot these scams?
There are ways to hedge against these scams.
First, you can ensure that every product that comes your way goes through standardized scrutiny protocols, no matter who seems to be endorsing it.
Keep an eye out for click-bait action. Make sure your spider senses start tingling as soon as you read over-the-top statements in a product’s objective statement.
Look for licensing and some central certification. Even though most creative scams can source fraudulent certificates, this habit of due diligence should hedge you against most scams.
Learn how to read reviews. If reviews start to sound like scripted lines out of a TV advertisement, BOUNCE!
Ensure you install the appropriate malware safeguards on your computer/device. Most anti-malware software can read into a web address's lack of security protocols. They proceed to block ads and even block certain kinds of attacks on your IP address.
Lastly, do not be lured into the scam by payout claims. Your curiosity/greed can very much cause the end of your trading days.
Despite employing so many safeguards, it is still extremely difficult to ensure you are good to go into the devious crypto world.
These scams are the primary reason why once-active users/traders have started to leave the crypto umbrella.
If scams like "Quantum AI" are not sufficiently hedged against, they could eat into the market completely and devoid the world of potential innovations that are still within scope.
Having said that, these scams have been ridding the market of unsophisticated customers/traders, which might lessen the speed and likelihood of bubble creation in the crypto space. Here is a piece that can offer deep insight into that.
Author: Osama Shahid
Osama Shahid is an experienced writer and editor, mainly writing about gaming and crypto. In his free time, he loves to game, playing FIFA 23 and Rocket League.