Key Takeaways
- Recently, a video of tech giant and crypto enthusiast Elon Musk has been making its rounds on social media platforms.
- The video claims that the billionaire is planning to give away $20 million worth of cryptocurrency.
- Musk states in the video his wish to surprise everyone with the $20 million crypto giveaway.
- Musk can be seen confirming the giveaway will happen on Elon4u.com, and this will span for one week. The giveaway will be starting on December 13.
- The deepfake video of the Tesla CEO is viral confusing crypto investors and beginners.
Elon Musk is not only the richest person in the world but also an influential voice in the world of crypto investments. If he suggests cryptos through social media platforms then his followers follow his financial advice.
The fake videos of Musk stating that some shady crypto investments are going to make the followers rich are common in social media. These deepfake videos are common on social media platforms such as Instagram, YouTube, TikTok, Facebook, X, etc. These ads are featured with the names of Musk’s various companies.
The development of technology and artificial intelligence has made it difficult to spot the fake and the real in the digital world. Even tech-savvy experts are confused and concerned about this development and its impact on the common people.
Tesla CEO Elon Musk is currently the center of a scam with his deepfake AI video claiming to give away $20 million in cryptocurrency. The scam has been initiated through his false AI video claiming the giveaway will commence on December 13.
The video instructs the viewers to navigate to Elon4u.com. The video confirms that the participants of the giveaway can have their fair share after completing a few simple steps.
In the viral fake video, Musk can be heard saying, “Here’s a surprise for everyone. I’ll be doing a $20 million crypto giveaway at Elon4u.com for one week starting on December 13.”
Elon Musk reassures that he is serious about the giveaway and instructs the participants to navigate to the Elon4u.com website and complete the few required steps to participate in the giveaway. However, this is an AI-generated deepfake video.
DogeDesigner shared the video on X(formerly Twitter) and warned his followers about the scam. He captioned the video as breaking news that an Elon Musk deepfake video promoting a $20 million crypto giveaway is going viral. The post clarified that no crypto giveaways are conducted by Elon Musk and the company. So he warned his followers to stay away from scams and stay safe.
This incident reminds the importance of verification of authenticity before taking any online action, especially investments. Deepfake technology is utilized by scammers to impersonate public figures like Elon Musk.
Anyone who comes across these claims must stay cautious about the offer. Suspicious links from unauthorized sources should be avoided. These scams should be taken to public notice to prevent others from falling victim. The offers that feel too appealing are more likely to be scams. This is not the first time Musk’s name has been used for fraudulent activities.
These types of scams have been rampant on social media platforms such as Instagram and TikTok. The scammers promise fake giveaways with substantial returns in return for small deposits or personal information.
How Scams Work?
Scammers use professional-looking websites that feel like authentic crypto exchanges. Victims are invited to the platform to register their accounts and enter a promo code to receive free cryptocurrencies.
To take part in the giveaway, the users are instructed to deposit a certain amount of cryptocurrency. These sites are designed to steal the cryptocurrency invested by the users. The scammers withdraw the amount before the victims can recover it.
The recent deepfake video about the $20 million crypto giveaway by Elon Musk is a scam to exploit unsuspecting victims. Technology advancements can also be used by scammers. These scams are indications that suggest cautious decisions from investors. Always be informed about the potential fraud that happens online.
Current Update on Elon Musk: Musk’s Tweet on Bill Gates
Tesla CEO Elon Musk reignited the feud over Bill Gates with an X post stating that Microsoft co-founder Bill Gates might go bankrupt if Tesla becomes the world’s most valuable company. Bill Gates might go bankrupt by short position.
Here short position refers to a stock market strategy in which profit is generated by borrowing shares of a stock that they do not own and selling it on the open market to buy them later at a lower price.
At present the market capitalisation of Tesla is $1.251 trillion. The company trails behind the world’s largest company Apple Inc. which leads at $3.729 trillion. Tesla requires a growth of nearly 200% to claim the top spot.
Also Read: BlackRock XRP ETF Rumors Suspended: Dismissed ETF Filing!
