These broadcasts feature a repeated deep fake video of Elon Musk urging followers and the crypto community to join a giveaway by scanning the embedded QR code. The QR codes direct users to fraudulent websites hosted on domains that imitate the impersonated brand or domains associated with Musk’s and Trump’s names. The cybercriminal attempts to convince the victim to invest in cryptocurrency to take advantage of the potential high-yield returns. After individuals have made multiple cryptocurrency investments through these fraudulent websites that promise significant returns, requests to withdraw or cash out their investments are denied for various reasons. The cybercriminal then cuts off contact with the victim and disappears with the invested money.
Recommendations
- Exercise caution when encountering videos with click-bait titles and avoid scanning QR codes in YouTube videos promoting cryptocurrency giveaways.
- Verify investment claims that offer higher-than-average returns.
- Consider running recommendations by a third party or an investment professional with no stake in the investment.
- Inspect YouTube channels promoting cryptocurrency giveaways for suspicious activity and report any suspicious activity to the respective platform or authorities.
- Educate yourself and others regarding these types of scams. Additional recommendations can be found in the Bitdefender blog post.
- Maintain robust and up-to-date endpoint detection tools on every endpoint and consider using a comprehensive security solution that can block phishing attempts and fraudulent links.
- Cryptocurrency scams and other malicious activity may be reported to the FBI's IC3 and the NJCCIC.