Elon Musk argued that “cryptocurrencies are the future”? Be warned this is a big fake

Billionaire Elon Musk, one of the richest people in the world, is included. boss of space company SpaceX and electric car maker Tesla. In recent weeks, he has caused a stir over reports that he was planning to buy Twitter for $43 billion. In April of this year, he was invited to a TED conference in Vancouver, where he was interviewed by TED CEO Chris Anderson. After this conversation, a video was released on the network in which we see Musk praising his next new project during an interview: a platform to invest in cryptocurrencies and encourage everyone to do such a thing. investment.

“Cryptocurrencies are the future. Anyone can make money. It’s very simple. Everyone will have 30% of the daily profit, which they will receive within three months,” said the billionaire on TED. Then he described the details of his project. “We now have 10,000 investors. This number is growing every day. Cryptocurrency is enough for everyone. I think no one should be afraid of risk. I ask everyone watching this to invest in my new project. It is now worth a billion dollars. I have already invested more than 50 million dollars and I have no intention of stopping. When I buy Twitter, the profit for our customers will increase by half. 10,000 people have already started receiving bonuses “- thus encouraged Elon Musk. In the film, he is also heard to say that his job is to enrich at least part of the world’s population.

However, this is not a recording of Musk’s new project, but an online scam. Because even though you can see in the video that the billionaire says the words we quote above – he really didn’t. How it is possible?

How to deal with deep fakes? “It would be up to journalists to determine what is true and what is false” Video: Facts about the world TVN24 BiS

A reworked video that is deeply wrong

The video appeared on YouTube on May 11 on the BitVex channel – the company promotes itself as a new platform for investing in cryptocurrencies. The title of the movie was: “I made $8,000 in a month with a new sales bot. BitVex released”; there was also a link to the platform’s website. Its logotype is always visible on the screen during recording.

The entire posted video is nearly 12 hours long, but – as we’ve verified – it’s only the first looping minutes during which Musk was supposed to announce an investment in cryptocurrencies. Moreover, it is a deep fake, i.e. a video created using artificial intelligence and deep learning, i.e. deep learning. It’s image manipulation that’s supposed to be undetectable. For example, a person visible on the recording speaks certain words, while someone else speaks and records them before, then combines the two video media into one.

We’ve described this technique in videos many times, such as when Facebook CEO Mark Zuckenberg was about to savor the power of having billions in his possession; Donald Trump, Vladimir Putin and Barrack Obama were to sing John Lennon’s “Imagine” together; when actress Gal Gadot, known for her role in Wonder Woman, was about to have sex with her stepbrother.

This is the technique that was used in the redesign of the TED recording with Anderson and Masek. In fact, they talked about the Mask projects, plans for Twitter and his work, among other things, and not about investing in cryptocurrencies. The video of the meeting was posted on the web. Someone then reworked it to make it sound like Elon Musk is encouraging everyone to invest in cryptocurrencies through the BitVex platform. The statements of the presenter and his guest have been manipulated.

Musk was not used for the first time

Elon Musk was supposed to promise big quick profits with almost zero risk. However, bleepingcomputer.com has established that the BitVex platform is a so-called scam, i.e. an attempt at online extortion. After registering in the system, the alleged profits of investors using this platform shown there are created using JavaScript by randomly selecting one of the five cryptocurrencies and randomly generating the amount benefits. They are also changed randomly each time the page is refreshed.

This is not the first time fraudsters have used Elon Musk to extort money from unwitting users. This happened, for example, in January 2021, which was also reported by bleepingcomputer.com. According to the website, the scammers earned more than half a million dollars in bitcoins as a result.

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Fraudsters are also trying their methods in Poland. In Konkret24, we described how the Polish government and Mateusz Morawiecki, Szymon Hołownia, journalists and stars of the TVN program were to encourage investments in cryptocurrencies. The activity of such websites was explained at the time by Adam Haertle, the editor of the ZaufanaTrzeciaStrona.pl website dealing with, among other things, network security issues.

– They want us, encouraged by the vision of quick and high earnings, to deposit money into our virtual account. Funds become visible on a given website and as long as we add more amounts, everything looks normal – explained the expert. – The problem begins when we decide to pay the accumulated or accrued capital. Then it turns out, for example, that the systems “do not work” temporarily, but we can add even more funds, and then “withdraw” more. Of course, in fact, our money is long gone – he said.

How to stay safe online?

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“These sites don’t just work for bitcoins,” Haertle pointed out. – One of their characteristics is the use of well-known personalities to authenticate a possible investment. I once encountered a similar case with Dominika Kulczyk, who helped the poor and it was possible to “join” her alleged action. Fraudsters hope that the popular name will increase trust in their website – he told Konkret24.

How not to be fooled

Pages with incredible stories of quick and easy wins should raise suspicion. Then, it is worth checking a few things that can help determine if a given site is bait to invest money and, therefore, to lose it. Here’s what it could indicate:

  • alleged fantasy stories about someone who effortlessly made huge amounts of money through online investments in a matter of moments or days,
  • links and references on the site pointing to places other than those suggested; a situation where a link leads directly to a page where one can register and “invest” is particularly alarming,
  • use websites with unsecured and unencrypted connections,
  • no contact details for website owners, no regulations,
  • negative reviews on the web about a given page.

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