Crypto Scammers Exploit: Elon Musk Speaks on Cryptocurrency

By Oliver Devane 

Update: In the past 24 hours (from time of publication)  McAfee has identified 15 more scam sites bringing the total to 26. The combined value of the wallets shared on these sites is over $1,300,000 which is an increase of roughly $1,000,000 since this blog was last published. This highlights the scale of this current scam campaign. The table within this blog has been updated to include the new sites and crypto-wallets.

McAfee has identified several Youtube channels which were live-streaming a modified version of a live stream called ‘The B Word’ where Elon Musk, Cathie Wood, and Jack Dorsey discuss various aspects of cryptocurrency.  

The modified live streams make the original video smaller and put a frame around it advertising malicious sites that it claims will double the amount of cryptocurrency you send them. As the topic of the video is on cryptocurrency it adds some legitimacy to the websites being advertised.  

The original video is shown below on the left and a modified one which includes a reference to a scam site is shown on the right.  

We identified several different streams occurring at a similar same time. The images of some are shown below: 

The YouTube streams advertised several sites which shared a similar theme. They claim to send cryptocurrency worth double the value which they’ve received. For example, if you send 1BTC you will receive 2BTC in return. One of the site‘s frequently asked questions (FAQ) is shown below: 

Here are some more examples of the scam sites we discovered: 

The sites attempt to trick the visitors into thinking that others are sending cryptocurrency to it by showing a table with recent transactions. This is fake ..

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