Experts have uncovered a new cryptocurrency scam circulating using a fake video of Tesla CEO Elon Musk.
Threat actors have created a fake cryptocurrency exchange called BitVex that claims that investors can get back up to 30% of their cryptocurrency deposits when, in fact, all they do is steal the money that is deposited.
At press time, the site was still operational, at bitvexorg. Explaining what makes this “exchange” different, the site says: “We provide you with the most profitable and reliable trading contracts, making daily payouts on all cryptocurrency contracts. Start trading cryptocurrencies and stablecoins today and get your first I pay tomorrow.
It also features testimonials from the likes of CZ (Founder and CEO of Binance) and Cathie Wood (Founder, CEO and CIO of Ark Invest). Elon Musk has been named CEO. To make the scam more convincing, the site also lists "earnings" generated by "users" of the exchange.
poor deepfake
It is also promoted with a deepfake video of Elon Musk, in which the eccentric billionaire businessman is seen discussing the business. The video adds very little to the legitimacy of the entire ordeal, as the multimedia production is comically poor.
However, scammers have shared it via YouTube, which means it can get into other people's channels to distribute it in more places, with an Arabic gaming video channel already hijacked to promote the game.
What goes to show that every job requires a bit of skill, including scamming, is the fact that the campaign generated minimal income for the scammers. Upon closer inspection, BleepingComputer found a number of wallet addresses used by the "exchange" and with the exception of the Bitcoin address which, at press time, contains no more than 1.€4k in cryptocurrency. , no payment was made.
Cryptocurrency investors are advised not to hold their coins on an exchange, but instead move them to a non-custodial wallet. Your accounts must be protected with strong passwords and security keys, while your devices must be kept up to date, behind firewalls and with a powerful antivirus solution installed.
Via: BleepingComputer