A fake Elon Musk video is streamed on YouTube to trick people with cryptocurrency scams. This Elon Musk scam on YouTube is being carried out using Bitcoin and Ethereum as lures.
YouTube has dozens of videos of Elon Musk that appear to be his views on Bitcoin price predictions and various cryptocurrencies such as Bitcoin and Ethereum. But in reality, all such YouTube videos are fake! There is an entire network of cybercriminals uploading fake Elon Musk videos to fraudulent viewers on YouTube. Even more shocking is that the scammers earned $ 243,000 in just over a week. The BBC report confirmed 23 Bitcoin transfers and 18 Ethereum transfers. So how is this Elon Musk scam used on YouTube?
Scammers are hacking YouTube accounts and promoting fraudulent cryptocurrency giveaways with fake videos. Thousands of people watched these fake videos this month, according to the BBC. For months, many individuals have been fooled into transferring cryptocurrencies to criminals via these video live streams on YouTube. According to the BBC, hackers have changed the names and images of dozens of YouTube channels to mimic the official Tesla channel, whose mask is CEO.
According to a BBC report, Elon Musk said on Tuesday that YouTube wasn’t properly addressing “fraud ads.” YouTube says it will remove all reported channels. YouTube has one of the most popular videos claiming that you can double your money by sending Bitcoin or Ethereum to your digital wallet. Surprisingly, Chilean musician Aisack was also the victim of this fake video streaming of Elon Musk video on YouTube. Two weeks ago, a cybercriminal hijacked a musician’s YouTube channel.
“Followers on other social networks started asking what was happening with the name of their channel and were very confused about why I was streaming Tesla content,” Chile said. City music artist Aisack said. He added, “I feel completely compromised and unsafe. YouTube isn’t fully addressing security issues to prevent hacker attacks because many users are in the same situation as me. . ”
YouTube says it has removed one of the reported channels, adding that “there are strict community guidelines that prohibit fraud such as spoofing and hacking.” Surprisingly, Whale Alert founder Frank van Weert said scammers were less successful than the previous year, but many victims still fall into it.