An AI-generated deepfake impersonating Elon Musk conducted a sophisticated cryptocurrency scam on YouTube, luring viewers with promises of doubling their investments in Bitcoin (CRYPTO:BTC).
The fake livestream, which mimicked Musk's voice convincingly enough to deceive thousands of viewers, ran for five hours before being taken down.
This incident highlights the escalating use of deepfake technology by scammers to exploit high-profile identities for financial gain, mirroring previous scams involving celebrities like rapper 50 Cent and Apple co-founder Steve Wozniak.
Authorities and platforms like YouTube face ongoing challenges in combating such deceptive schemes, urging vigilance among online users.