A YouTube Live broadcast that ran for 5 hours nowadays used a deepfake of Elon Musk to push a cryptocurrency scam inside the contemporary of a sequence of comparable bogus streams. The video, which has considering that been taken down, showed a clip of Musk that was meant to seem like a live stream from a Tesla event, with an AI-generated version of his voice instructing viewers to go to an internet site and deposit their Bitcoin, Ethereum or Dogecoin so as to take part in a giveaway. The message, playing on a loop, promised the system might then “mechanically ship again double the amount of the cryptocurrency you deposited.”
Over 30,000 visitors have been tuned into the movement at one factor (although we are able to discount the opportunity, these numbers have been inflated by using bots), pushing it to the top of YouTube’s Live Now hints. The account masquerading as Tesla, @elon.Teslastream, had the Official Artist Channel verification badge, so we can be searching for an account hack. Both the video and the channel had been removed after Engadget reached out to Google. We’ll update this newsletter if we hear lower back with any more information.
The Mechanics of Tesla Crypto Giveaway Scams
Tesla crypto giveaway scams typically involve the following elements:
- Impersonation:
- Scammers create fake social media accounts or hijack existing ones to impersonate Elon Musk or Tesla. These accounts often look legitimate, complete with profile pictures, bios, and even verification badges.
- Deepfake Technology:
- Advanced deepfake technology is used to create videos that appear to show Elon Musk promoting a cryptocurrency giveaway. These videos are often broadcasted on platforms like YouTube, Twitter, and TikTok.
- Phishing Websites:
- Victims are directed to phishing websites that mimic the look and feel of official Tesla or cryptocurrency exchange sites. These sites promise to double any cryptocurrency sent to a provided wallet address.
- Social Engineering:
- Scammers use social engineering tactics to create a sense of urgency and legitimacy. They may use countdown timers, fake testimonials, and professional-looking graphics to convince victims to act quickly.
Case Studies
- YouTube Deepfake Scam:
- In June 2024, a YouTube Live broadcast featured a deepfake of Elon Musk promoting a cryptocurrency scam. The video, which appeared to be a live stream from a Tesla event, urged viewers to visit a website and deposit Bitcoin, Ethereum, or Dogecoin with the promise of doubling their deposits. The stream attracted over 30,000 viewers before it was taken down.
- Twitter Impersonation:
- Scammers have also used Twitter to promote fake Tesla crypto giveaways. In one instance, a verified Twitter account was hacked and used to post a promoted tweet claiming that Elon Musk was giving away Bitcoin. The tweet directed users to a phishing site where they were asked to send cryptocurrency to a scam wallet.
- 7News YouTube Channel Hack:
- In June 2024, the 7News YouTube channel, which has 1.71 million subscribers, was hacked and used to live-stream an AI-generated Elon Musk promoting a crypto scam. The stream encouraged viewers to scan a QR code and deposit cryptocurrency, promising to double their assets. The channel was eventually taken down, but not before thousands of viewers were exposed to the scam.
Real-Life Impact
The financial and emotional toll of these scams can be devastating. For example, a man named Sebastian lost 10 Bitcoin (worth approximately $400,000) after falling for a fake Elon Musk giveaway. He was convinced by the professional appearance of the scam website and the deepfake video, only to realize too late that he had been deceived.
How to Protect Yourself
- Verify Sources:
- Always verify the authenticity of social media accounts and websites. Look for inconsistencies in URLs, check for official announcements from the company, and be wary of newly created accounts.
- Be Skeptical of Unrealistic Offers:
- If an offer sounds too good to be true, it probably is. Legitimate companies and individuals do not give away large sums of cryptocurrency for free.
- Use Security Tools:
- Employ security tools like antivirus software and browser extensions that can detect phishing sites and malicious links.
- Report Suspicious Activity:
- Report any suspicious accounts or websites to the platform administrators. This helps prevent others from falling victim to the same scam.
- Educate Yourself:
- Stay informed about the latest scams and tactics used by cybercriminals. Knowledge is your best defense against fraud.
These Elon Musk deepfake scams seem to have surged over the last couple of months, in each instance the use of an account posing as one in every one of Musk’s companies. This one became titled “Tesla’s [sic] unveils a masterpiece: The Tesla as a way to change the auto enterprise all the time.” Earlier in June, Cointelegraph said that similar scams ran through 35 debts pretending to be SpaceX across the time of the Starship launch. Scammers in April attempted to get in on the eclipse hype the use of the equal tactic, as Mashable mentioned at the time. Currently, there have been several reviews of faux Musk livestreams posted on Reddit.
Crypto scams concentrated on Musk’s fans on social media have been a hassle for years, as have the ones involving celebrities who are well-known. Just this Friday, 50 Cent turned into a hit by means of a hack that used his accounts to perform a pump-and-dump scheme.
