Elon Musk Deepfake Crypto Scam Goes Viral: $20 Million Giveaway Exposed as Fraud

Last updated on May 20th, 2025 at 02:00 pm

A highly developed deepfake video of Elon Musk has raised concern in the cryptocurrency sector, rallying participants into a $20 million scam. The edited video that has been shared on social media is fake featuring Musk saying there is an opportunity for people to receive a lot of money through a website that is Elon4u.com.

Soon after the appearance of the fake news, the influential member of the crypto community, DogeDesigner, tweeted to his X (Twitter) audience that Musk and all his businesses do not possess any crypto lotteries. It has been warned that this case is indicative of the fact that deepfake technology is gradually becoming part of fraudsters’ arsenal where more and more elaborate fake content is created to target people through convincing realistic simulations based on AI.

People from the cryptocurrency community are advised to be careful, verify information received from official sources, and do not use such websites. This latest of all types of scams is a gentle prod to the general populace of the need to be more informed about new age digital literacy and to be more thorough when reviewing potential online propositions that sound too good to be true but clearly they are not.