Criminals allegedly used the face and voice of Tesla CEO Elon Musk to create a deepfake video to trick crypto investors.
What the criminals have done is create a fake crypto exchange called ‘BitVex’ and use Elon Musk’s deep fake video as a propaganda tool and promise investors up to 30% returns.
Deepfake cyber hacks are on the rise. Click here to learn more about it and how to stay safe.
Meanwhile, the global crypto market cap rose 2.27% to $1.29 trillion as of 9:10 a.m. ET. However, global crypto volume decreased by 13.84% to $71.99 billion according to data from Coinmarketcap.
— BleepingComputer (@BleepingComputer) May 22, 2022
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $30,066.39, up 2.86% in the past 24 hours. Ethereum (ETH) rose 1.14% to $2,009.67.
“Bitcoin dominance is currently at its peak. Traders appear to be gearing up for another altcoin season. At the moment, technical indicators appear to be neutral and upside will most likely be limited from here,” says Gaurav Dahake , CEO and Founder of Bitbns.
Among other major coins, Cardano (ADA) rose 1.45% to $0.5284, Solana (SOL) traded with a 0.42% gain to $50.01, Polkadot (DOT) rose 2.01% to $10.23 and Binance Coin (BNB) rose 3.07% to $335.37. However, Algorand (ALGO) was trading with a loss of 0.76% at $0.4162.
Today’s top gainer was Sweet SOL (SSOL) which rose 562.82% to $0.000000722. The big loser was LUNA DOGE TOKEN (LDT), which lost 91.4% to $0.000005656.
Meme Coin and DeFi prices
Dogecoin (DOGE) fell 0.26% to $0.08397. Its volume to market capitalization ratio is 0.04237. Rival Shiba Inu (SHIB) was down 0.08% at $0.00001185.
Dogelon Mars (ELON) gained 0.11% to trade at $0.0000004921, Floki Inu (FLOKI) lost 0.32% to $0.00001025 and Samoyed Coin (SAMO) gained 1.98% to $0.005891.
In the DeFi segment, YFI (yearn.finance) rose 1.33% to $9,191.46, and Terra (LUNA) traded with a 4.9% gain to $0.0001752. Avalanche (AVAX) rose 0.91% to $29.49, Uniswap (UNI) traded with a loss of 0.12% to $5.72 and Aave (AAVE) rose 6.55% to $105.27.
The cybercriminals also hacked several other YouTube channels including an Arabic gaming channel to continue spreading this deep fake video.
Bleepcomputer.com investigated the video segment by segment and found it to be completely fake. They also discovered that the Bitveg.org website listed Elon Musk, Cathie Woods of ARK Invest, and Changpeng Zhao, CEO of Binance, praising them and even applauding their efforts. All of this was also wrong.
Criminals have become more advanced in executing cyberattacks, click here to learn more about how you can protect yourself against online fraud.