Unmasking a Cryptocurrency Scam: How Elon Musk is being used to defraud YouTube

🎬 Elon Musk and cryptocurrency scams: A YouTube show worth watching. But what is really going on?

❔ The essence of what is happening:

Owners and editors of YouTube channels fall victim to phishing and, unknowingly, give attackers access to their channels. The latter, in turn, organize broadcasts in which Elon Musk allegedly glorifies cryptocurrency projects, links to which can be found in a pinned message in the broadcast chat.

🤑 What do attackers promise viewers?

Cryptocurrency projects promise to magically increase the amount of cryptocurrency sent to a crypto wallet under the mask of Tesla or SpaceX. Of course, victims never see the promised funds. Interestingly, even the support on these fraudulent websites works! But it is likely that you will receive a “xuli nado?”, as happened to cybersecurity researcher John Hammond. This shows that the quality of the service could certainly be improved. It is also easy to assume the origin of this type of fraudulent business.

🥸 Is this a new type of fraud?

To be honest, this is not a new type of fraud, we have been dealing with its varieties for a long time, even before the Internet era. And we all remember the “letters of happiness” from the heir to the throne who needs our help – the so-called “419 Scam”. But it’s worth noting that we are entering an era of integrating artificial intelligence technologies into many areas of our lives. And fraudsters are not averse to using these new technologies either. For example, there are already technologies that can replace faces during a call or live broadcast or imitate voices. Now imagine that Elon Musk sends you a personalized video message, addresses you by name, and claims that you have been chosen by his super-innovative charity system and that he wants to help improve your financial situation.

🛡 How can we protect ourselves?

Undoubtedly, we need to create new countermeasures that can detect such frauds. But the most vulnerable point in any system is the person himself. Or, more precisely, their lack of awareness. That is why the most effective and best first level of defense is to improve your digital literacy and cyber hygiene.

❓ What other types of cyber fraud have you encountered? Have you ever responded to a “love letter” from a crown prince?

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