Some of you might have watched a YouTube live video where Elon Musk, standing on the launchpad before an audience at the SpaceX Starship Flight 5 launch event, urges people to send Bitcoin or Ethereum to a specified address. According to the on-chain data, thousands of viewers fell victim to this scam!
The original event in the video happened 6 months ago, in the Texas Starbase launch facility when Elon Musk made a speech about the potential of Starship and its next flight. The scammers replaced his talk with AI-generated audio and streamed them across verified YouTube channels.
This isn’t the first time such a sophisticated fraud is happening. Whenever SpaceX launches a rocket, scammers look for ways to generate money with it. Let’s check how these scams work in detail and how to avoid them.
Why Crypto Scams Target SpaceX & Elon Musk?
With such a fanbase and reputation, Elon Musk has been always a victim of scammers. They create fake X (Twitter) profiles in his name, use his AI-generated audio-visual content, and create an authentic atmosphere for users to fall in.
As a cryptocurrency advocate, Elon supports crypto-based payment systems and has been considered a blockchain-messiah by web3 enthusiasts. When he tweets positively about any crypto it pumps, like what happened with Dogecoin. His announcement about
” Tesla accepting Bitcoin as a payment system was the triggering point of the 2021 bull run, and the bear phase that followed came after his announcement that Tesla will no longer accept Bitcoin over climate concerns.”
Also, at the “B Word” online conference in 2021, Elon Musk revealed that SpaceX had invested in Bitcoin, however, the exact number is unknown. He also said that he owns Bitcoin, and Ethereum, and bought some Dogecoin for his youngest son.
When Elon entered the crypto space with full power in late 2020, the crypto scams also rose with it. According to the Federal Trade Commission’s report, billions of dollars worth of BTC and ETH have been stolen since 2021.
Are There Any Ways To Prevent These Scams?
One core tactic of the scammers is the believability and the authenticity they create. When a verified YouTube or X profile in the name of SpaceX or Tesla appears at the right time, people will fall easily into the trap.
Governments across the world have been fighting against these scams, and are trying to enforce strict regulations. Anyhow, the lawless web3 crime world is far ahead of the legal technologies, and even platforms like YouTube have inadequate systems to control these advanced scams.
Even the Prime Minister of India’s X (Twitter) account which has 102 million followers, was hacked by web3 scammers in 2021 and they tweeted that, users can now send Covid relief fund donations as Bitcoin, and they provided a wallet address. The blockchain data showed that many web3 users fell into this, and this is a perfect example that shows X isn’t 100% secure.
Finally, the burden of securing the assets remains on the wallet owner. So, the users should be vigilant and careful, and research thoroughly before doing any acts. Once the coins have been sent, they cannot be recovered. Unfortunately, there are even scams that tell people there are quick ways to retrieve lost coins with some advanced software that costs some fees. Don’t fall for that!
Important Safety Tips: How To Escape From Crypto-based Scams?
- Verify the Authenticity: A verified sign doesn’t mean it is the official profile. To find out whether it is genuine or not, verify whether the URL or username is of the official account. Also, check the previous posts/videos and their engagement.
- Protect Personal Data: Don’t share your wallet’s seed phrase, or any other password online. The scammers will try any means possible, and always act with a meditative mind filled with awareness. Don’t let the sudden emotions, that the scammers try to inject, ruin you.
- DYOR: Always do your research before even doing a single act of transaction, and engage with a trustable community to help you navigate the space. If you have any specific concerns, you can connect with us, or find reliable experts for help.
The post SpaceX Crypto Scam: AI-Generated Elon Musk Urges People to Buy BTC at Starship Flight 5 Launch Event! appeared first on Kallanish Energy.
This post appeared first on Kallanish Energy News.