Over the weekend, crypto users on YouTube fell victim to a deep fake scam by Elon Musk

Hey there, did you catch the wild livestream over the weekend? It drew in more than 30,000 viewers and involved some sneaky tricks with Bitcoin, Ethereum, and Dogecoin.

This stream, running for a whopping five hours, featured semi-pixelated videos of Elon Musk and even had a segment that made it seem like Musk was hosting a live event. Talk about a creative scam!

The video had an AI-generated version of Elon Musk’s voice, urging viewers to head to a website and deposit their crypto for a chance at a giveaway. They were asking for Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), promising to double the cryptocurrency deposited automatically.

The fake “@elon.teslastream” account pretended to be Tesla and even had a verification badge next to its profile. Thankfully, Google stepped in and took down both the video and the channel.

Watch out for Musk scams!

This isn’t the first time scammers have used Elon Musk’s likeness to trick people. Just a while back, there were bogus Space X giveaway scams on YouTube during the solar eclipse frenzy on April 8.

And in May, the Hong Kong Securities and Futures Commission (HKSFC) warned everyone about a phony crypto exchange platform using AI-made videos of Elon Musk to push crypto trading services.

AI-generated videos have become a go-to tool for crypto scammers lately. According to a recent report, these fake videos can speed up scams, which doesn’t bode well for the reputation of AI and the crypto industry as a whole.

Props to Engadget for being the first to uncover this sneaky livestream scam.

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