As SpaceX's Starship rocket embarked on its fourth test launch, over 35 deepfake versions of Elon Musk flooded YouTube, promising cryptocurrency enthusiasts double returns on their deposits. The deceptive live streams, orchestrated by scammers, coincided with SpaceX's monumental event, aiming to exploit the excitement surrounding the launch.

Avast Threat Labs cybersecurity researchers uncovered the elaborate scheme, revealing that numerous YouTube channels broadcasted deepfake voices mimicking Musk, enticing viewers with promises of lucrative crypto giveaways. The scammy streams mimicked Musk's vocal patterns convincingly, adding an air of authenticity to their fraudulent claims.

In one instance, a YouTube channel masquerading as an official SpaceX account hosted three simultaneous live streams, drawing in a staggering 170,000 viewers—likely a combination of legitimate viewers and bots to create the illusion of legitimacy. The channels displayed wide-angle footage of Musk purportedly speaking at an outdoor SpaceX event, with some streams strategically blurring the face to obscure the deepfake's imperfections.

The AI-generated Musk urged viewers to send Bitcoin or Ether to a specified address, assuring them of doubling their deposits. The deceptive voice, adept at replicating Musk's vocal idiosyncrasies, insisted, "this is not a fake, this is a real giveaway. I personally guarantee it to you." Despite the scammers' efforts, the true intentions behind the scheme were clear—an attempt to swindle unsuspecting individuals.

Although the extent of the scam's success remains unclear, evidence suggests that multiple wallets associated with the scam received substantial sums, totaling approximately $34,000 across various transactions. However, the fraudulent streams have since been removed, and the YouTube channel responsible has rebranded itself to mimic the Cardano Foundation, perpetuating the scam through a deepfake portrayal of Cardano co-founder Charles Hoskinson.

This incident underscores the persistent use of Elon Musk's likeness in cryptocurrency scams, exploiting his vocal support for digital assets. Moreover, it highlights the evolving sophistication of deepfake technology, posing significant challenges to online security and trust. As authorities continue to combat such fraudulent activities, vigilance remains paramount in safeguarding against deceptive schemes that exploit emerging technologies for illicit gain.