You might have come across those flashy ads on various social media platforms that say “Elon Musk’s new AI trading platform, Quantum AI, is making people rich by doubling your investment in a day!”
It sounds tempting, right?
But here’s the truth: Quantum AI trading is not what it seems to be.
Behind the buzzwords is a dark reality just to trick people.
Let’s break it down so that you can understand exactly how this fraud works and how to avoid it.
What is Quantum AI Trading?
Quantum AI is an online trading platform that combines two tech worlds, quantum computing and artificial intelligence.
They claim that this application can analyse global financial markets and execute any trade faster than humans. It can even tailor suggestions or automatically trade for you.
According to the developers, the app can scan huge chunks of market data rapidly, finding trends and opportunities that can be missed by the traders.
The idea behind this app is to save time and stress, as it sounds like a dream come true for anyone wanting to dive into crypto or forex trading.
But is that the complete truth, or is there something hidden behind the curtain?
Let’s dig a little deeper.
How Quantum AI Works?
The promises made by Quantum AI trading apps are impressive. It runs on advanced algorithms that analyse the markets faster and more accurately.
They have a user-friendly interface, which makes it easy for beginners to navigate the platform.
It offers you freedom to customise your trading parameters, such as choosing risk levels, cryptocurrencies or trading pairs, which provides a tailored experience to the users.
It claims to protect the user data with top-notch security measures like encryption and multifactor verification.
It offers educational resources that help users gain knowledge.
Sounds like a dream, right?
But in reality, there’s no verifiable proof that the application uses real quantum technology or high-level AI.
Is Quantum AI Legit or a Scam?
This is one of the most searched questions online, and for good reason.
Scammers are using Elon Musk’s name and image to trap traders in Quantum AI trading.
The videos they use seem to be convincing, but they are actually fake. They use deepfake videos created with AI tools.
Similar fake videos of other big names have been reported. Quantum AI has used deepfake videos of Infosys founder Narayana Murthy and author Sudha Murthy.
These videos show that they have invested in quantum AI and appeal to people to invest their money in it.
When you see such videos, you should remember that if they look too polished and unbelievable, it probably is.
In short, this is how the scam works:
- It uses fake ads and celebrities. It shows videos of them endorsing the application and manipulating users to trade with them.
- They have fake signup sites. When you click on the link, it redirects you to their cloned sites.
- The dashboard shows fake profit numbers to make the useless that they are earning fast.
- When you try to withdraw your money, it shows technical issues, verification holds, or simply no replies.
Eventually, the site disappears or changes its web address, leaving victims with nothing but regret.
Quantum AI Trading Complaints
If you ever check Reddit forums or Quora, you will see a lot of reviews for this application.
All these reviews are negative. Users report losing their investments, struggling to withdraw their money, and incidents of being harassed by their customer support.
People also found that the platform uses AI-generated faces and fake names for their trading experts.
If these images are googled, they appear in random stock photo databases.
82-Year-Old Victim Loses ₹38,047 in Quantum AI Scam
We recently received a complaint from one of the victims, Mr K.V. Ramakrishnan (name changed), who lost around ₹38,047 in the Quantum AI Scam
Mr K.V. Ramakrishnan from Kerala narrated his story about the scam to us.
One day, while using social media, he came across an ad in which Finance Minister Nirmala Sitharaman was promoting Quantum AI and Tradgrip Trading.
He was convinced that if he invested his money, he would get guaranteed returns as promised by the ad.
Mr Ramakrishnan trusted those claims and transferred money through Google Pay from his bank account twice.
Once he invested ₹18,847 and then ₹19,200. But things took a turn for the worse when he tried to ask for a refund.
The fraudsters demanded an additional $600 to process the refund. It is a classic trick used by fraudsters to squeeze more money from victims.
The total loss was ₹38,047.
Thus, this proves that this platform is unreliable. It is developed to manipulate and cheat innocent people.
How to Identify Investment Scams?
If you are also inclined towards trading or investing, you must be careful about various things in order to stay safe from these scammers.
Here are some steps to guide you on how you can stay safe:
- You should always verify that the platform is registered with a recognised financial regulator.
- You should be cautious of the platforms that promise talented returns or risk-free earnings.
- Check for the independent reviews from a reliable finance community, and do not fall for the reviews that are shown by the platform itself.
- Always stay vigilant when you are searching for trading apps so that you can identify fake videos, fake images, and fake claims.
- You should always double-check before depositing your money anywhere.
How to Report Investment Scams?
Here are clear and simple ways of how to report fake investment scams:
- Collect all evidence, including screenshots, payment receipts, chat history, emails, and transaction details.
- Note down key details, like dates, amounts lost, platform names, and any user IDs involved.
- Inform your bank immediately and request that it block further transactions or reverse suspicious payments if possible.
- File a cyber crime complaint on the portal operated by the government.
- Visit your nearest police station and file a formal complaint or FIR under cyber fraud.
Need Help?
We understand that it becomes very frustrating when all our hard-earned money just vanishes in seconds.
In case you are confused about how to report such scams online, register with us now.
We will guide you with the process and help you in filing your complaint online.
Conclusion
According to the evidence gathered, the Quantum AI trading app is totally fake. It sells an illusion with fake endorsements to your people to fall into their trap.
You should not fall for such illusions and always choose transparency, real regulation and user accountability over anything.
If you’ve come across these ads or know someone who has, share this post with them.
The more people understand how these scams work, the fewer will lose their money to digital fraudsters.
