A purportedly live video featuring Tesla Inc TSLA CEO Elon Musk and Twitter Inc TWTR founder Jack Dorsey in discussion with Ark Invest’s Cathie Wood is, in fact, a cryptocurrency scam in disguise.
What Happened: The YouTube video, which attracted 8,900 likes and was being watched live by more than 14,700 people at press time, shares a link with a website that features a faux Bitcoin BTC/USD and Ethereum ETH/USD giveaway.
The scammer’s call to action reads, “During this unique event we will give you a chance to win $100 000 000, have a look at the rules, and don’t miss on your chance! You can only participate once!”
The video was originally a talk from July 2021 that featured Wood, Musk and Dorsey as part of an initiative to educate institutions on Bitcoin.
See Also: Top 5 Bitcoin and Crypto Scams
Why It Matters: At press time, the Bitcoin and Ethereum wallets shared by the fraudulent giveaway page had garnered a total of nearly $30,500 in the two cryptocurrencies.
The Bitcoin wallet contained 0.53026961 BTC worth nearly $24,340, while the Ethereum wallet had a balance of 1.76 ETH worth almost $6,155.65.
This month, a “verified” Musk Twitter profile was seen asking for Dogecoin DOGE/USD in a fake giveaway.
Scammers have made nearly $8 billion from global cryptocurrency investors through rug pulls and other activities.
Price Action: At press time, over 24 hours, BTC traded 0.8% lower at $46,035.75, while ETH traded 0.7% lower at $3,498.53, according to data from Benzinga Pro.