The proliferation of fake Elon Musk YouTube streams purportedly promoting cryptocurrency schemes is not a novel occurrence within the digital realm. However, the emergence of a deceptive livestream purportedly originating from a fake SpaceX YouTube channel during Monday’s total solar eclipse, a celestial event that captivated millions across the United States, added a new layer of sophistication to this nefarious practice.
The fraudulent livestream featured an AI-generated impersonation of business magnate and SpaceX CEO Elon Musk delivering a speech, ostensibly endorsing a cryptocurrency investment scheme. This orchestrated scheme aimed to exploit the widespread fascination surrounding Elon Musk and SpaceX, leveraging the allure of their reputable brands to deceive unsuspecting viewers.
Central to the deception was a call to action embedded within the livestream, urging viewers to scan a QR code displayed on the screen and deposit cryptocurrencies with the promise of doubling their investments. This manipulative tactic preyed on the innate desire for financial gain while capitalizing on the trust and credibility associated with Elon Musk and SpaceX.
The initial flagging of this fraudulent activity by the research group and iOS developer Mysk underscores the vigilant efforts of cybersecurity experts to identify and combat such scams. Their timely intervention served as a crucial warning to potential victims, alerting them to the deceptive nature of the livestream and the risks associated with participating in the purported investment scheme.
The incident highlights the evolving sophistication of online scams and the need for heightened awareness and vigilance among internet users. As fraudulent actors continue to adapt and refine their tactics, it is imperative for individuals to exercise caution and skepticism when encountering enticing offers or investment opportunities, particularly within the realm of cryptocurrencies.
Woow! A verified @YouTube account is impersonating @SpaceX's account and airing a livestream about the solar eclipse. The stream shows a deepfake of Elon Musk asking users to scan a QR code on the screen and deposit cryptocurrencies to have them doubled. 95K users are watching… pic.twitter.com/A0B5XiAfUg
— Mysk 🇨🇦🇩🇪 (@mysk_co) April 8, 2024
“95K users are watching it. The domain name seems to be registered in Russia.”
With 310K subscribers, the channel underwent a rebranding to mimic SpaceX’s appearance. Mysk also pointed out that the video remains active and ranks prominently when searching for “solar eclipse livestream.”
A crypto scam is promoted through a deepfake speech purportedly delivered by Elon Musk.
he stream, titled “Live: Solar Eclipse Spectacular 2024 of SpaceX,” purported to showcase a pre-recorded video featuring Elon Musk addressing a crowd. However, what unfolded was an elaborate deception: the video played an AI-generated voice impersonating Elon Musk, promoting a cryptocurrency investment opportunity and pledging substantial returns on investments. This fraudulent activity sought to exploit the public’s fascination with Elon Musk and SpaceX, leveraging their esteemed reputation to dupe unsuspecting viewers into participating in a dubious financial scheme.
As reported by Mashable, the fake video prominently displayed a QR code with the enticing caption, “Eclipse of 2024 – Change your life.” Viewers were encouraged to scan the QR code, purportedly to seize the opportunity and invest in the crypto scheme being promoted. However, the reality was far from what it seemed: scanning the QR code redirected users to a counterfeit website masquerading as SpaceX, where they were prompted to partake in the fraudulent investment scheme.
Source: Mashable
Source: Mashable
Several users also reported live chat messages purportedly from a fraudulent Elon Musk account, promising a significant giveaway in honor of the total solar eclipse event.
The live chat also included a hyperlink directing users to a fraudulent website – eclipse-spaceX.com – which was found to be hosted in Russia. An imposter posing as Elon Musk claimed in a message that 630 Bitcoin (BTC) and 5,200 Ethereum (ETH) had already been distributed to viewers of the live stream.
This incident is not an isolated one; similar occurrences involving SpaceX and Elon Musk videos have plagued YouTube before. In October, a brief video circulated featuring Musk in an interview, with a manipulated audio track urging viewers to invest in the BitVex trading platform.
In response to the cryptocurrency scam, Musk briefly addressed the issue on Twitter, emphasizing his non-involvement in any such fraudulent promotions. He tweeted, “Yikes. Def not me,” clarifying his stance as the tech entrepreneur distanced himself from the deceptive activities.
According to El País, the impersonation of media outlets and dissemination of fabricated news became increasingly prevalent during the cryptocurrency boom. Platforms like Twitter are particularly susceptible to the proliferation of deepfake crypto scams, providing fertile ground for such deceptive practices to spread unchecked.
WOW what an OPPORTUNITY #bitcoin pic.twitter.com/Wl4bWQofCN
— Jason Paladino (@jason_paladino) April 8, 2024
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