Deepfake Being Used To Steal Cryptocurrencies’

Last week a deepfake of Elon Musk was being used on social media to get users to send their cryptocurrencies.

Deepfake Elon Musk

BitVex was promoted in a deepfake around Elon Musk being at a TED talk following this it was promptly taken down. However more uploads of the videos occurred on YouTube it was found that the website was a scam and was taking users deposited bitcoin.

Fake Elon on Twitter

Elon Musk again in 2021 was used to get his fans to donated their bitcoin through a link on his twitter. Little did they know that the account was compromised however a large portion of users fell for this scam and lost large sums of money. Using a well known persons profile and persona has enabled individuals to abuse the trust their following has.

Deepfakes on a compromised account

Deepfakes and compromised accounts are one thing however as more of these events happen it can lead to more dangerous scenarios. It is likely that an attacker will be able to compromised someone’s account and release fake videos pretending to be them to phish whatever they want from that individuals audience.

Spotting a deepfake

Depending on the quality of the fake you can spot them by seeing how the face fits into the background. Alongside this you can see the facial expressions and body posture being stiff and unnatural. The problem occurs as the technology is getting better meaning the normal glaring issues arent visible anymore. Generally the logic of scams is around getting you to do something fast in a short time frame this is something to avoid. Alongside relying on your believing in the individual or being a fan and following them.

Last weeks news around Twitter fines is available here.

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Alex Cunningham
Alex Cunningham
Alex is an information governance graduate, his main role is to support clients on how to help mitigate information security risks. Having recently graduated with a degree in Cyber Security with a focus on user-based security issues and risks. Alex enjoys playing video games, watching movies and going outside to visit new places with his dog Ruby.
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