This Elon Musk deepfake is scamming people out of their cryptocurrency

A new scam cryptocurrency trading platform has found a way to promote itself using deep fakes of Elon Musk's likeness and others.

@AdamHuntTT
Published Wed, May 25 2022 8:14 AM CDT   |   Updated Wed, Jun 15 2022 4:01 AM CDT

Yet another cryptocurrency scam has surfaced, this time utilizing deep-fakes and Elon Musk's likeness to do the trick.

The deep faked video shows Elon Musk on the set of a TED talk originally from April 15, 2022 where he discusses Twitter, Tesla, and more. The video, titled "I Have Made $8K in 1 month via a new Trading Bot | BitVex Release", has Musk supposedly announcing a new cryptocurrency trading platform named BitVex, promising 30% returns.

Newly created YouTube channels and hacked existing ones have recently uploaded deep-faked videos of other notable people in the cryptocurrency space apparently endorsing BitVex. These include the CEO of Binance, Changpeng Zhao, the CEO of Ark Invest, Cathie Wood, and others.

Upon creating an account on the Bitvex website, users are presented with a dashboard where they can deposit different cryptocurrencies and select supposed "investment plans" or make withdrawals. However, the withdrawals are fake and appear to be randomly generated with JavaScript. So far, only $1,700 worth of cryptocurrency has been deposited by unfortunate victims of the scam.

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Adam grew up watching his dad play Turok 2 and Age of Empires on a PC in his computer room, and learned a love for video games through him. Adam was always working with computers, which helped build his natural affinity for working with them, leading to him building his own at 14, after taking apart and tinkering with other old computers and tech lying around. Adam has always been very interested in STEM subjects, and is always trying to learn more about the world and the way it works.

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