According to CNA, criminals impersonated Taipei Exchange (TPEx) Chairman Chien Li-chung using AI-generated deepfake audio and video to spread investment fraud on social media. A Facebook account called "Wealth Guide" cloned his voice from an old interview, dangling an "80-fold" return. TPEx confirmed Chien never set up any investment group and directed the public to its anti-fraud hotline, (02) 2737-3434, or the 165 police hotline.
How did fraudsters use AI deepfakes to impersonate the chairman?
According to CNA, unidentified fraudsters impersonated Taipei Exchange (TPEx) Chairman Chien Li-chung (簡立忠), using AI deepfake audio and video to distribute investment scam messages on social media. TPEx said in its statement that the perpetrators "used AI technology to synthesize deepfake audio and video" built from stolen footage of the chairman.
Both CNA and CTEE (工商時報) reported the same specific case: a Facebook account named "Wealth Guide" (財富指南) stole video of Chien from an old media interview and used artificial intelligence to clone his voice, producing a fabricated investment-scam video. The fake video claimed to offer an investment opportunity with "80-fold upside potential," offering stock picks for free in an apparent bid to lure victims into joining a specific group. CTEE's account of the same claim matches CNA's reporting nearly word for word, indicating both outlets drew from the same TPEx statement.
How did Taiwan's stock market volatility factor into the scam?
CTEE reported that TPEx, in the same statement, tied the timing of the scam to market conditions, saying fraudsters "took advantage of recent severe swings in Taiwan's stock market" to impersonate Chien and spread the deepfake video. TPEx did not disclose any figures quantifying the swings; the characterization comes directly from TPEx's own wording as quoted by CTEE.
How did Chien and TPEx clarify the rumors?
According to CNA, TPEx explicitly clarified that Chien "has never set up any investment group or Facebook community," and stated that any group or community claiming to be opened by "Chairman Chien Li-chung" is fraudulent. This direct denial is the basis for TPEx's public warning and applies to any current or future group using his name.
Which hotlines should investors use to verify and report scams?
TPEx pointed the public to two verification channels, reported consistently by both outlets:
| Channel | Number | Purpose |
|---|
| Securities and Futures Anti-Fraud Hotline | (02) 2737-3434 | Verify whether an investment offer citing Chien or TPEx is legitimate (per CTEE) |
| National Police Agency Anti-Fraud Hotline | 165 | Report scams to judicial authorities with supporting evidence (per CNA) |
CNA reported that TPEx urged the public to call the securities and futures anti-fraud line for verification, or use the 165 police hotline to file a report with evidence. CTEE additionally supplied the direct dial-in number for the securities and futures line, (02) 2737-3434.
What this means
The two reports, drawn from the same TPEx statement, are internally consistent: both cite the identical "Wealth Guide" Facebook account, the same "80-fold" claim, and the same chairman denial. TPEx's own framing links the scam's timing to "severe swings" in Taiwan's stock market, suggesting the fabricated video was designed to exploit investor attention during a volatile period — though TPEx did not quantify that volatility. Because TPEx has now stated on the record that Chien has never opened any investment group, any group invoking his name — including one promising an "80-fold" return — is, by TPEx's own definition, fraudulent, and the two published hotlines are the only verification channels TPEx has named.