Fake Elon Musk YouTube streams promoting crypto schemes have been around for some time, but a recent incident involved a total solar eclipse livestream allegedly hosted by a fake SpaceX YouTube channel. The stream featured a deepfake of Elon Musk promoting a crypto investment scheme, asking users to scan a QR code on the screen and deposit cryptocurrencies to supposedly double their funds. The channel had 310K subscribers and was rebranded to resemble SpaceX, with the domain name registered in Russia. Despite being flagged by research group Mysk, the video was still live and easily searchable on YouTube.
The fake video, titled “Live: Solar Eclipse Spectacular 2024 of SpaceX,” played a pre-recorded message of Musk discussing a crypto investment opportunity and promising double returns. Viewers were encouraged to scan a QR code that led them to a scam website impersonating SpaceX. The live chat during the stream also included messages from fake Elon Musk accounts promoting a big giveaway to celebrate the solar eclipse. The scam website linked in the chat, eclipse-spaceX.com, was hosted in Russia and claimed to have already sent Bitcoin and Ethereum to viewers.
This incident is not the first time that fake SpaceX and Elon Musk videos have been used to promote crypto scams on YouTube. In the past, a manipulated audio track of Musk endorsing the BitVex trading platform circulated on the platform. Musk responded to the recent deepfake incident on Twitter, clarifying that he had no involvement in the fake promotions. The spread of deepfake crypto scams on social media platforms like Twitter has become more prevalent during the crypto boom, with scammers taking advantage of the popularity of Elon Musk and SpaceX to deceive users.
The use of deepfake technology to create convincing fake videos of high-profile figures like Elon Musk is a growing concern, as it can be used to perpetrate scams and manipulate public perception. These fake videos can be easily shared on social media platforms and reach a wide audience, leading to unsuspecting users falling victim to fraudulent schemes. Platforms like YouTube and Twitter need to strengthen their security measures to detect and remove fake content more effectively and protect their users from falling prey to deepfake scams.
It is crucial for users to exercise caution when encountering cryptocurrency investment opportunities promoted by high-profile individuals or brands online. Scammers often use fake videos and social media accounts to lure people into sending them funds, promising unrealistic returns in return. By being vigilant and verifying the legitimacy of such promotions, users can protect themselves from falling victim to crypto scams orchestrated through deepfake technology. Authorities and platforms must also take steps to crack down on these fraudulent activities and hold perpetrators accountable for their deceptive practices.
