Tesla CEO Elon Musk found himself at the center of another social media scam, as reported by Engadget. A YouTube Live broadcast used a deepfake of Musk to deceive viewers into a cryptocurrency scam.
The fraudulent broadcast lasted five hours and featured an AI-generated version of Musk’s voice, encouraging viewers to deposit Bitcoin, Ethereum, or Dogecoin on a specified website with the promise of a giveaway. The scam claimed it would “automatically send back double the amount of the cryptocurrency you deposited.”
This deceptive broadcast attracted over 30,000 viewers, pushing it to the top of YouTube’s Live Now recommendations. However, there were suspicions that the viewer count might have been artificially boosted by bots.
The account behind the scam, @elon.teslastream, had an Official Artist Channel verification badge, indicating a potential account hack, as reported by NewsBytes. Both the video and the channel were quickly removed after Engadget alerted Google to the fraudulent activity.
This incident is part of a growing trend of Musk deepfake scams, where accounts pose as one of Musk’s companies. This particular cryptocurrency scam followed another recent scam titled “Tesla unveils a masterpiece: The Tesla that will change the car industry forever.”
Earlier this month, Cointelegraph reported similar scams involving 35 accounts pretending to be SpaceX during the Starship launch. Additionally, in April, scammers exploited the Total Solar Eclipse hype using the same tactic. Fake Musk livestreams were also posted on Reddit recently.
Cryptocurrency scams have consistently targeted Musk’s followers, and other celebrities have also fallen victim to such scams.
The recent deepfake scam underscores the critical need for public awareness and education about the dangers of online fraud. Individuals are urged to verify the authenticity of any investment opportunity through reliable sources before committing funds. Additionally, they should be wary of unsolicited messages and endorsements, even if they appear to come from reputable figures.As technology continues to evolve, so too does the landscape of cybercrime.
The use of deepfakes in scams represents a significant and growing threat that requires coordinated efforts from individuals, technology companies, and regulatory bodies. By staying informed and vigilant, the public can help mitigate the risks posed by these sophisticated forms of fraud and protect themselves from falling victim to such schemes.
