Crypto Scammers Exploit: Elon Musk Speaks on Cryptocurrency
Essential information
- Published
- 02/04/2025 14:21
- Modified
- 02/04/2025 14:29
- Tags
- 2025-04-02 cryptocurrency double investment elon musk fake websites live stream scam social media exploitation youtube
- Related entities
- 10 observables, 5 techniques (mitre), 10 others
Description
Cybercriminals are exploiting a live stream featuring Elon Musk, Cathie Wood, and Jack Dorsey discussing cryptocurrency to conduct scams. They modify the original video, adding frames that advertise malicious websites claiming to double users' cryptocurrency investments. Multiple YouTube channels were identified streaming this altered content. The scam sites use fake transaction tables to create an illusion of legitimacy. As of May 5, 2022, the associated crypto wallets had received transactions totaling $280,000. The scam expanded rapidly, with 15 additional sites discovered within 24 hours, bringing the total value in the wallets to over $1,300,000. Users are urged to be vigilant against such schemes that promise unrealistic returns.