Crypto scammers have used YouTube to steal USD $150K worth of Bitcoin from victims, by impersonating SpaceX and Elon Musk. 

According to a 9 June report on Bleeping Computer, scammers hacked genuine YouTube accounts and added branding to make them look like Elon Musk’s official SpaceX channel. 

Archived footage of Musk was then used to put on fake ‘live events’, in which people could scan a QR code to pay Bitcoin (BTC) and ‘join the live conversation’. 

Capitalising on the interest surrounding SpaceX, following its recent launch of the world’ first private manned spacecraft, it’s not surprising the event proved popular. 

In fact, at least 80,000 people watched the ‘live stream’, presumably fooled by the con, and 15.31 BTC was handed over by victims. One Bitcoin address received 29 transactions consisting of 4.08 BTC, worth nearly $40K, while the other received 84 payments consisting of 11.23 BTC, worth nearly $110K. 

It’s not the first time Musk has been impersonated in crypto scams, and in February he took to Twitter to urge people to report scams as soon as they saw them. However, things aren’t so easy, with scammers becoming ever more sophisticated and seemingly one-step ahead of the platforms. 

Musk isn’t alone in being used by crypto scammers either. It is an increasingly troubling issue for many celebrities and high-profile business people. In February, Qatari billionaire Wissam Al Mana launched legal action against Facebook in response to his image being used on crypto scam adverts appearing on the social media platform. Last year Kate Winslet, Andrew Forest, Bill Gates, and Richard Branson were also hijacked by crypto scammers behind the audacious fake Bitcoin investment scheme known as “Bitcoin Code” or “Bitcoin Profit.” 

AYO.NEWS says:

It really does seem that the major social media platforms are failing to stem the tide of sophisticated crypto scams, so it’s critical that people employ their own due diligence before parting with crypto. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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