If you were watching SpaceX’s live launch coverage of the Starship launch this morning on any one of a several dozen Youtube Channels, you may have gotten a big surprise. The channels, which appeared high in Youtube’s rankings, carried SpaceX’s legitimate broadcast down to just a few minutes before launch when they smoothly transitioned to a video of Elon Musk, presumably at Starbase.
As Musk, dressed in a flight jacket, walked out on an outdoor stage, he began promoting crypto currency to a large crowd of spectators, and making a “too good to be true ” offer….for every crypto-coin you sent in, he would send you two back. There was even a QR code on the screen you could scan to help with the transaction.
As electronic signs in the background touted the offer, (one said “Dubble your money”) Elon extolled the virtues of investing in crypto currency. Meanwhile, those watching likely had a “WTF” moment when they realized a what seemed to be a commercial promotion had taken the place of the Starship launch they tuned in for. Everyone knows Elon can be eccentric, but not so eccentric that he would run a promotion right through Starship launch time.
And indeed it was a scam, a deepfake which used slightly altered real video and an AI generated Elon Musk voice.
While the broadcast caught myself and no doubt thousands of others by surprise, some companies had warned of the scam in advance. An example is MalwareTips.com, whose May 24th online story read:
Imagine waking up one day to find Elon Musk has launched an exciting new cryptocurrency giveaway celebration tied to SpaceX’s latest rocket launch. A YouTube video shows Musk announcing that SpaceX will distribute $100 million in free Bitcoin, Ethereum, Dogecoin and other tokens. All you need to do is visit the SpaceX website, send some crypto to a designated wallet address, and double your money!
As tempting as this sounds, don’t get duped. These viral crypto giveaways are completely fake, orchestrated by scammers impersonating SpaceX to steal digital assets. Read on to learn how this insidious scam works and how to avoid becoming the next victim.
Thomas Orsolya -Malwaretips.com
Looking back to the November 2023 Starship launch, CryptoNews.com warned of the scam, reporting a Youtube broadcast similar to today’s that directed users to a fake website. That scam reportedly netted $165,000 for the scammers, according to the story.
Today’s fraudulent broadcast was likely the most widespread and advanced yet. SpaceX cryptocurrency giveaway scams have become an alarming trend, cleverly designed to trick victims into transferring their valuable digital assets to the wallets of cunning fraudsters. By impersonating Elon Musk and SpaceX, these scammers have successfully stolen millions in cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin from unsuspecting users.
The scams typically begin with online advertisements that proliferate across social platforms like Twitter, YouTube, and Facebook. Utilizing advanced deepfake technology, the ads feature manipulated video footage of Elon Musk, announcing a seemingly exciting crypto giveaway tied to a recent SpaceX achievement.
One notable example of these scams involves a deepfake video showing Musk declaring that to celebrate a successful rocket launch, SpaceX will distribute $100 million in free Bitcoin and Dogecoin. The instructions are simple: visit a provided website and deposit a small amount of cryptocurrency into a specified wallet address to receive double the amount back.
The deepfakes are impressively convincing, employing state-of-the-art AI and media manipulation techniques to replicate Musk’s voice, expressions, and mannerisms with remarkable accuracy. This level of detail immediately lends an air of legitimacy to the fraudulent promotion, making it difficult for many viewers to distinguish it from a genuine announcement.
Once users click through to the site, they encounter sophisticated scam pages designed to mimic official SpaceX or Tesla domains. These fraudulent websites are meticulously crafted, featuring SpaceX branding elements, images of Musk, and even directly plagiarized content from SpaceX’s actual website to avoid detection. The attention to detail on these sites can easily mislead users into believing they are interacting with a legitimate SpaceX or Tesla promotion.
Despite repeated warnings and public awareness campaigns, these scams continue to ensnare victims, largely due to the sophisticated nature of the deepfakes and the seamless integration of legitimate-looking branding. And the fakes just keep on getting better. The use of deepfake technology in particular represents a worrying escalation in the methods employed by cybercriminals, making it increasingly challenging for individuals to protect themselves from such scams.
Authorities and cybersecurity experts urge the public to remain vigilant and exercise caution when encountering any cryptocurrency giveaway promotions, especially those purportedly tied to high-profile figures or organizations. They recommend verifying the authenticity of such offers through official channels and being wary of requests for cryptocurrency transfers, as legitimate giveaways do not typically require upfront payments.
As the technology behind these scams continues to evolve, it is crucial for individuals to stay informed and adopt best practices for cybersecurity. This includes regularly updating security settings on social media accounts, using two-factor authentication, and being cautious about sharing personal information online.
While the sophistication of these scams presents a significant challenge, increased public awareness and proactive measures can help mitigate the risk and protect individuals from falling victim to these deceptive schemes.
