Crypto scammers are scamming people with fake Elon Musk YouTube streams

The billionaire appears to be aware of the scams as he tweeted this week calling YouTube (Image: Getty)

A network of cyber scammers is scamming people by streaming fake Elon Musk videos on YouTube.

The criminals are reportedly hijacking YouTube accounts and using the videos to promote fake cryptocurrency giveaways.

Tens of thousands of people tuned in to these streams for four days this month, the BBC reported.

The billionaire appears to be well aware of the scams as he tweeted this week denouncing YouTube using his weapon of choice – memes.

“YouTube appears to be non-stop scam ads,” Musk tweeted Tuesday.

The fake streams appear to have been going on for months, tricking thousands of people into sending cryptocurrency in hopes of earning a prize from Musk.

The hackers routinely change the name and image of these YouTube channels to make them look like official Tesla channels.

The scammers are believed to be buying emails and passwords from previous data breaches online and through the mail.

The streams direct viewers to links that invite them to double their funds by sending Bitcoin or Ethereum to the advertised digital wallet addresses.

“My followers on other social networks were asking me what was wrong with my channel name and were very confused as to why I was streaming Tesla content,” said Chilean urban music artist Aisack, whose YouTube channel was hijacked. to the BBC.

“It is very frustrating that your YouTube channel is hacked after you have dedicated so many years of work to it. I feel completely hurt and insecure.

“We have strict community guidelines that prohibit fraud, including impersonation and hacking,” YouTube told the BBC.

The vast majority of fake livestreams feature financial firm ARK Invest’s July panel featuring Musk.

A spokeswoman for ARK told the BBC that she was “aware of hacked third-party YouTube channels fraudulently impersonating ARK”.

“These accounts are impersonators and are in no way affiliated with ARK Invest,” she said. “ARK Invest will never use YouTube or other social media to solicit money, including cryptocurrency,” reached out to YouTube for comment.

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Justin Scacco

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