Musk and more famous impostors scam millions of dollars on YouTube Live – Market Research

Washington, Dec 18 (EFE) .- YouTube Live, the popular video platform tool in which “influencers” chat live with their followers, has become the scene of million-dollar scams in which impostors of Elon Musk and other celebrities offer the unsuspecting propositions that are too good to be true.

Posing as those who are not and thus gaining the trust of Internet users, scammers pocket amounts that can easily exceed 8.9 million dollars in cryptocurrencies per month, such as bitcoin, Ethereum or Dogecoin, explains in an interview with Efe the Cybersecurity expert Satnam Narang, who works as a researcher for the Tenable firm.


The method is as seemingly simple as it is difficult to combat due to its agility and discretion, which allows scammers to profit in a relatively short period of time (of only days or even hours) before being detected.

Imposters hijack the passwords of a popular YouTube Live channel (which can have hundreds of thousands or even millions of subscribers), completely change its name and characteristics, and play stolen videos of interviews or other public interventions by the person. whom they seek to supplant.

Elon Musk is one of the most common, but famous people from the world of cryptocurrencies also appear often, such as the president of MicroStrategy, Michael Saylor; Ethereum co-founders Vitalik Buterin and Charles Hoskinson; or the CEO of Ripple Labs, Brad Garlinghouse.


Then, “the scammers do something that should immediately make anyone suspicious and that none of these celebrities have ever done: they offer to double or triple the amount of cryptocurrency sent to them”, details Narang, who has been investigating this hoax for months. .

Despite the unrealistic nature of the proposal, the victims sting for several reasons: first, there is the legitimacy that the stolen channel gives with hundreds of thousands or millions of subscribers and that it offers a sense of realism, and then there is the usual eccentricity with the one that some of the characters impersonated like Musk act.

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