⇘ Bitcoin scams on YouTube: Deepfakes, Elon Musk impersonations, and Legal Actions

Recent events in the world of cryptocurrency reveal an alarming trend of scams involving deepfake videos on YouTube. Leading the charge of this dangerous trend are individuals impersonating high-profile tech mogul, Elon Musk, to steal Bitcoin from unsuspecting viewers. Major Australian broadcaster 7News fell victim to these scams as their platform was hijacked to promote the fraudulent campaigns.

These scams are accomplished using AI-generated deepfakes of Elon Musk that deceive viewers into crypto "giveaways" that are simply mechanisms to steal their Bitcoin. Over the course of a single weekend, these scams have duped many crypto users.

Meanwhile, as these scams run rampant, market analysts like Benjamin Cowen and Kevin Svenson issue warnings about potential corrections in the Bitcoin market. There are also speculations that Bitcoin could potentially hit $90,000, depending on market conditions.

A legal victory was recently granted to Apple co-founder Steve Wozniak in his lawsuit against YouTube regarding Bitcoin scams involving his likeness. In addition, sham SpaceX Starship livestreams have been used to further the reach and harm potential of these scams.

Analysts caution that Bitcoin prices could be susceptible to a overthrow if investors fall for these scams amid growing warnings from authorities and tech personalities like Michael Saylor about the dangers of deepfake Bitcoin scams.

Bitcoin Youtube News Analytics from Wed, 01 Apr 2020 07:00:00 GMT to Thu, 27 Jun 2024 21:30:09 GMT - Rating -5 - Innovation -7 - Information 4 - Rumor -6