Elon Musk ‘Crypto Twitter’ Scam – What You Need To Know

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Written by: Stelian Pilici

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Elon Musk’s name and likeness are being used in an elaborate cryptocurrency scam that is circulating on social media. The scam uses deepfake technology and AI-generated voices to impersonate Musk and Fox News host Tucker Carlson in a fake interview that promotes a fraudulent crypto investment platform called “Crypto Twitter.”

Elon Musk Scam

Overview of the Elon Musk ‘Crypto Twitter’ Scam

The fake interview featuring Carlson and Musk discusses a new cryptocurrency investment program that Musk has supposedly created called “Crypto Twitter.” In the fabricated interview, Musk claims that Crypto Twitter allows people to easily invest in cryptocurrencies like Bitcoin and Ether.

The scam video runs like a legitimate Fox News interview for nearly six minutes. It appears authentic and includes the Fox News logo and backgrounds. But in reality, it is completely fabricated using deepfake technology. The voices are generated using artificial intelligence and mimic Carlson and Musk’s voices and mannerisms.

This deceitful video is being promoted via paid ads on platforms like Facebook and Instagram. The goal is to trick viewers into believing Crypto Twitter is a real platform endorsed by Musk. Then it directs them to a website to invest, which inevitably leads to people getting scammed out of their money.

How the Elon Musk ‘Crypto Twitter’ Scam Works

The Elon Musk “Crypto Twitter” cryptocurrency scam operates in a meticulously planned sequence designed to convince victims to invest money into the fake platform. Here is an in-depth look at how this scam systematically deceives people:

Paid Ads on Social Media

The scam begins with paid video advertisements on Meta’s social media platforms such as Facebook and Instagram. The ads lead to the fake Crypto Twitter investment site. The scammers are able to run these paid ads by funneling money through various accounts and sources to avoid detection.

By promoting the scheme through paid ads, it lends a perceived air of legitimacy. People tend to trust that ads on major sites have been vetted in some form. This is an illusion scammers exploit to their advantage.

High Quality Deepfake Video

When users click the ad, they are taken to a convincing deepfake video featuring Elon Musk and Tucker Carlson discussing Crypto Twitter. Deepfake technology allows the scammers to create fabricated footage that realistically impersonates Musk and Carlson’s voices, mannerisms, and likenesses.

The deepfake video is designed to mimic an actual Fox News interview. It contains the Fox News logo, graphics, set backdrop, and hosts. But in reality, this interview never happened. It is simply manufactured using AI to dupe viewers.

Fake Landing Page

After watching the faux interview, users are redirected to a slick landing page further describing Crypto Twitter. It includes false claims like “Musk just announced the biggest financial opportunity in 20 years for everyday Americans” and says he has partnered with investment experts to launch Crypto Twitter.

Sprinkled throughout the landing page are fake credentials and testimonials from non-existent investment managers, like “Gene Carllyle of the Top Investment Club.” This lends a façade of credibility.

In reality, all these details are complete fabrications by the scammers. The point is to quickly convince visitors that Crypto Twitter is a legitimate platform endorsed by Musk before skepticism sets in.

Routing Victims to WhatsApp

A key step in the scam occurs when victims are told to join a Crypto Twitter WhatsApp group to discuss investment opportunities. WhatsApp’s encrypted nature makes it appealing for hiding illegal activity.

The WhatsApp group is populated with criminals posing as Crypto Twitter employees. They pressure and manipulate victims into “investing” funds, providing bank account details, or transferring cryptocurrencies to them. In essence, directly handing money over to scammers.

This WhatsApp tactic is crucial for quickly collecting money from victims before they detect the ruse. Once in the private chat, victims often fall for high-pressure sales tactics.

Stealing Money

The ultimate goal of the scam is to obtain funds from victims. This occurs in the WhatsApp group, where the criminals employ psychological manipulation and false promises of massive profits. Once they convince victims to send money, cryptocurrency, or sensitive account information, they quickly steal it.

From start to finish, the seamless sequence of paid ads, deepfakes, fake websites, and WhatsApp groups is carefully engineered to deceive. The scammers put tremendous thought into each step of the process to make the Crypto Twitter scam look undeniably real. This allows them to reel in and take advantage of unsuspecting victims.

How to Spot The Elon Musk ‘Crypto Twitter’ Scam

While this scam is sophisticated, there are warning signs that can help you detect it is a fraud:

  • Promises unrealistic cryptocurrency investment returns.
  • Uses fabricated videos or images of Musk and Carlson.
  • Directs you to non-existent platforms like “Crypto Twitter.”
  • Uses fake testimonials and credentials for investment “experts.”
  • Pushes you to communicate outside normal channels via WhatsApp.
  • Pressures you to invest money quickly or you’ll “miss out.”
  • Full of grammatical errors, typos, and other suspicious details.

Always search online for any red flags about an investment offer involving cryptocurrencies. And never trust random people who reach out asking you to invest, especially via unofficial channels like WhatsApp.

What to Do if You Fell Victim to the Elon Musk ‘Crypto Twitter’ Scam

If you already lost money in the Crypto Twitter or similar Musk crypto scams, take these steps:

  • Contact your bank: Notify your bank and explain you were scammed. Ask to reverse any fraudulent transactions if possible.
  • Report the scam: File a report on the FTC and FBI websites about the fraud. Also report it to Meta if the ads were on Facebook or Instagram.
  • Gather information: Save any emails, screenshots, WhatsApp conversations, and other details relating to the scam. This evidence helps investigations.
  • Watch out for recovery scams: Beware of any follow-up messages claiming they can recover your lost money. This is always another scam tactic.
  • Change passwords: Update passwords and enable two-factor authentication anywhere compromised by the scam, like email accounts.
  • Talk to the authorities: If the amount lost was substantial, you can file a report with the police. But unfortunately the likelihood of recovering money once sent to scammers is very low.

Conclusions & Takeaways

As cryptocurrency investment scams using Elon Musk’s likeness explode, it’s crucial to be vigilant. Here are key conclusions:

  • Deepfakes are rampant: Criminals are leveraging deepfake technology at scale to create fake videos and voice recordings.
  • Musk is a top target: Scammers know using Musk’s name and reputation gives credibility to their cons.
  • Ads don’t equal legitimacy: Paid ads on sites like Facebook mean nothing; scammers exploit them too.
  • Guard personal info: Never give out sensitive information to random online requests or WhatsApp messages.
  • If it seems fake, it is: Trust your instincts; if an “investment” seems sketchy or too good to be true, it always is.

Stay skeptical of unbelievable crypto earning opportunities with Musk or other celebrities. Report any suspected frauds immediately. With insight and caution, you can avoid these despicable scams.

Frequently Asked Questions

Here are answers to some common questions about the Elon Musk Crypto Twitter scam:

Is Crypto Twitter a real platform created by Elon Musk?

No. Crypto Twitter does not actually exist. The fake interview is completely fabricated by scammers to trick people.

Can I get my money back if I was scammed?

Unfortunately, it is extremely unlikely you will recover any lost funds sent to scammers. Contact your bank immediately if you fell victim.

How are the deepfake videos and AI voices made?

They are created using sophisticated deep learning techniques. The scammers train algorithms on many past videos and audio of Musk and Carlson to achieve a convincing effect.

Where should I report the Crypto Twitter scam?

Report it to the FTC, FBI, Meta, and anywhere else you encounter the scam ads. These agencies investigate financial frauds.

How can I spot similar cryptocurrency scams?

Look for too-good-to-be-true guarantees, fake celebrity endorsements, pressure to act fast, and requests to pay in cryptocurrency. Apply healthy skepticism to all investment offers.

Is Elon Musk associated with any cryptocurrency platforms?

No. Musk has no official roles or partnerships with any crypto programs. Any claims otherwise are 100% fraudulent.

How to Stay Safe Online

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