Elon Musk Deepfake Scams 30,000 YouTube Viewers in Cryptocurrency Scheme

A YouTube Live broadcast running for five hours today used a deepfake of Elon Musk to promote a cryptocurrency scam, marking the latest in a series of similar fraudulent streams.

The Scam Details

The video, now taken down, featured an AI-generated Musk appearing to livestream from a Tesla event. The deepfake Musk, with an AI-generated voice, directed viewers to visit a website and deposit bitcoin, Ethereum, or Dogecoin to participate in a giveaway, promising to "automatically send back double the amount of the cryptocurrency you deposited."

Viewership and Potential Bot Involvement

The stream attracted over 30,000 viewers at its peak, though these numbers could have been inflated by bots, pushing it to the top of YouTube's Live Now recommendations.

The fraudulent account, @elon.teslastream, had the Official Artist Channel verification badge, suggesting a possible account hack. After Engadget reached out to Google, both the video and the channel were removed. Further updates from Google are awaited.

Increase in Deepfake Scams

Scammers have recently increased the number of deepfake scams featuring Elon Musk, frequently using accounts impersonating Musk's companies. This particular stream was titled "Tesla's [sic] unveils a masterpiece: The Tesla that will change the car industry forever."

Earlier in June, Cointelegraph reported on similar scams involving 35 accounts pretending to be SpaceX around the launch of the Starship. In April, scammers exploited eclipse hype using the same tactic, as reported by Mashable.

Broader Context of Cryptocurrency Scams

Cryptocurrency scams targeting Musk's followers on social media have been an ongoing issue, along with scams involving other celebrities. Recently, 50 Cent's accounts were hacked to carry out a pump-and-dump scheme.

The persistence and evolution of these scams underscore the challenges in protecting users from sophisticated online frauds, particularly those leveraging AI and deepfake technology.

Protecting Users from Fraud

The growing sophistication of deepfake technology presents significant challenges for platforms like YouTube in identifying and preventing such scams. The use of verified accounts adds an extra layer of complexity, as it can lend an air of legitimacy to the fraudulent streams.

As AI technology continues to advance, the methods used by scammers are likely to become even more sophisticated, making it crucial for both platforms and users to stay vigilant.

Conclusion

The use of deepfake technology to impersonate Elon Musk in a YouTube cryptocurrency scam highlights the evolving nature of online fraud. With scammers becoming increasingly adept at using AI and deepfake technology, it is essential for users to remain cautious and for platforms to enhance their security measures.

As the situation develops, updates from Google and other tech companies will be crucial in understanding and mitigating these sophisticated scams.