Fake Elon Musk Uses SpaceX Launch To Steal $34K in Crypto

Over 35 YouTube channels streamed deepfake videos of Elon Musk during a recent SpaceX Starship launch, aiming to deceive viewers. These streams featured an AI-generated Musk promising doubled returns on crypto deposits.

The Scam Unveiled

Cybersecurity researchers at Avast identified these fake streams during the SpaceX Starship’s fourth flight. The real event showed the rocket splashing down in the Indian Ocean, while scam streams mimicked official SpaceX accounts, gaining around 170,000 viewers, likely inflated by bots.

How the Scam Worked

The deepfake showed Musk at a SpaceX event, with an AI voice mimicking his speech. Viewers were told, “This is not fake, this is a real giveaway,” and were instructed to send Bitcoin, Ethereum, or Dogecoin to specific addresses, promising double returns. Fake audience clapping sounds made it seem more realistic. Nine wallets received nearly $34,000 by June 6.

Previous Similar Scams

Elon Musk, known for supporting cryptocurrencies, has been targeted before. A deepfake video endorsed a fraudulent crypto trading service in Hong Kong. In April, scammers used AI-generated Musks in fake SpaceX accounts during a solar eclipse.

Conclusion

CoinGabbar warns viewers to be skeptical about online content, especially involving money. Advanced deepfake technology makes scams convincing. Although YouTube removed the fraudulent streams, scammers adapt quickly, shifting targets. Always verify information online to avoid falling victim to such scams.
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