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Scammers have taken deception to a whole new level with deepfake videos of Elon Musk promoting cryptocurrency scams.
These videos, designed to look like legitimate endorsements, have flooded YouTube, tricking unsuspecting viewers into believing Musk himself is backing these crypto schemes.
The scariest part? Many of these scams are flying under the radar, leaving countless people falling victim before they even realize what’s happened.
How Scammers Are Using Deepfakes to Impersonate Elon Musk
Deepfake technology lets scammers create disturbingly realistic videos of Musk endorsing cryptocurrency schemes. Musk’s association with the tech and crypto worlds makes him the perfect target for scammers looking to cash in on his credibility.
These videos typically feature Musk discussing "can't-miss" investment opportunities that promise huge returns—spoiler alert: the only people making money are the scammers.
What makes these scams so believable is that Musk is genuinely interested in cryptocurrencies like Bitcoin and Dogecoin. Scammers latch onto this fact, using deepfake videos to make it seem like Musk is backing their shady crypto ventures.
The deepfakes are so convincing that many people are duped into thinking they’re watching Musk himself talk about the next big crypto opportunity.
CloudSEK Uncovers the “Double the Money” Crypto Scam on YouTube
At CloudSEK, we recently came across a scheme called “Double the Money”, which was being pushed on YouTube using deepfake videos of Musk.
Between September 14-15, multiple YouTube channels were streaming videos of a fake Musk talking about the U.S. Presidential Election Debate and even an assassination attempt on Donald Trump. But beneath the surface, these videos were nothing more than a front for cryptocurrency scams.
In these streams, the deepfake Musk wasn’t just talking politics—he was also endorsing Trump’s re-election, claiming it would be a win for crypto enthusiasts.
According to the fake Musk, Trump "gets" cryptocurrencies better than any other candidate, and his victory would supposedly boost the crypto market. Of course, none of this was true, but it gave the scam an extra layer of credibility for viewers to latch onto.
YouTube: A Playground for Deepfake Scams
YouTube’s massive reach makes it the perfect playground for scammers pushing deepfake videos. Fraudsters use the platform to post fake live streams or edited videos that look like legitimate interviews or announcements from Musk.
To make the scam even more convincing, these videos often feature slick graphics and eye-catching titles, making it hard for the average viewer to figure out what’s real and what’s fake.
The problem with YouTube is that once a convincing video gets posted, it can quickly spread to thousands of viewers, who might not think twice before falling for the scam.
Many of these viewers are directed to fraudulent websites, where they’re tricked into investing in fake crypto schemes, or worse—having their personal information stolen. These scams are so well done that people often realize they’ve been duped only after their money is gone.
CloudSEK’s Investigation: 15 Scamming YouTube Channels Uncovered
After flagging the first deepfake, we dug deeper into the scam and found a wider network of fraudulent activity on YouTube.
By focusing our search on Elon Musk-related content, we identified at least 15 different YouTube channels, many of which were verified, pushing the same or similar scams. Some of the channels we found include:
- @tesla-e1u
- @Tesla-musk-us.live24
- @Tesla-p2x
- @TeslaInc304
- @TeslaCP
- @Tesla.Iives.news.24
- @tesla-n2p
- @trump.tesla.debate.live.on.24
- @Tesla-w1f
- @tesla-r4i
- @TesIa.Iive-news
- @TeslaInc305
- @tesla-k4k
- @tesla.us.news-officiaI
- @newslivestesla
All of these channels were involved in promoting fraudulent content, mainly by using deepfakes of Musk to lure in viewers. And because many of these accounts were verified, they seemed trustworthy, which made the scams even more believable.
Fake Crypto URLs and QR Codes: Redirecting to Fraud
These deepfake videos didn’t just stop with fake endorsements—they also included QR codes and links to scam websites that looked legit but were designed to steal cryptocurrency from viewers. Some of the URLs used in these scams were:
- teslainc2x[.]org
- muskdebate[.]io
- elondebate[.]io
- debate[.]gift
After investigating these sites, we discovered that they were collecting funds in the form of Bitcoin (BTC), Solana, Dogecoin, and Ethereum from victims.
Here’s a snapshot of one of the scam websites:
Compromised YouTube Channels: Old Accounts, New Scams
What’s especially troubling is that some of the YouTube channels we uncovered weren’t new—they had been around since 2010. It appears that scammers are taking over older YouTube accounts that were once run by legitimate creators.
After gaining control of these accounts, they rebrand them and use their established credibility to push scams like the Double the Money scheme.
This approach gives scammers a head start in making their scams seem more authentic since these older, verified accounts already have a history of content.
It’s another layer of deception that makes it harder for viewers to realize they’re being tricked.
Tackling the Growing Deepfake Threat
The rise of deepfakes poses a serious challenge, but it’s not one we have to face alone. While scammers are getting more sophisticated in how they use technology to deceive people, detection tools have also evolved.
These tools help detect deepfakes in real-time, flagging fake content before it has a chance to spread too far. This can be a game-changer in stopping these scams before they do too much damage.
For instance, when videos like the ones featuring Elon Musk are uploaded to YouTube, these detection tools can analyze the content, checking for signs that it’s been manipulated.
Whether it’s the unnatural movement of the subject or inconsistencies in the audio, these tools are designed to catch what the human eye might miss. As deepfakes become more advanced, tools like these will be critical in protecting both viewers and platforms from being exploited.
This added layer of defense helps not only individuals who might fall victim to these scams but also prevents reputational harm to the public figures being impersonated. It’s one of the most important steps we can take to maintain trust in digital media, especially as scams continue to get more sophisticated.
The Real-World Damage: What Happens When People Fall for These Scams
The damage from these scams is real. People who trust these fake Musk endorsements often invest thousands of dollars, believing they’re part of a legitimate cryptocurrency venture. But once the truth comes out, the money is long gone, and there’s usually no way to get it back.
Beyond the financial loss, these scams also tarnish the broader crypto community.
They make it harder for real cryptocurrency projects to gain support because people lose trust after being scammed. On top of that, individuals like Elon Musk get caught up in the mess, as scammers misuse their likeness to legitimize fraud, causing reputational harm to people who had no part in the scam.
Deepfakes Are Becoming a Major Problem for Crypto
Deepfakes have come a long way from being just internet gimmicks. Now, they’re tools for serious fraud, as we’ve seen with these Elon Musk deepfakes.
Scammers are using them to take advantage of the growing interest in cryptocurrencies, and they’re getting better at it. With the way technology is advancing, it’s getting harder to spot these fakes, making detection tools more important than ever.
That’s why having advanced tools to spot deepfakes is crucial. These tools are making it easier to catch scams early and prevent them from causing widespread harm. By using such technology, we can stay ahead of the scammers and ensure a safer digital environment for everyone.
Meet the Deep Fake Analyzer
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To tackle this issue, we’ve developed the Deep Fake Analyzer—a free, easy-to-use tool designed to help anyone detect deep fakes.
Whether you’re a cybersecurity expert or just someone who wants to verify that the video you’re watching is real, this tool gives you the power to see through AI-generated content.
As deep fakes become more sophisticated, our analyzer stays one step ahead, helping protect against misinformation, fraud, and other threats.
Stay tuned for the official launch, and get ready to take control of your digital security.
Final Thoughts
As deepfakes get more convincing, the scams that use them will only get more difficult to detect.
The Elon Musk deepfakes are a clear example of how scammers are using this technology to manipulate people and steal their money.
But with the right tools in place, we can fight back and make sure these scams don’t take root. Next time you see an exciting crypto pitch that seems too good to be true, take a second look—it might just be another deepfake.
