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    Don't Get Caught by a Deepfake Scam

    In frauds involving cryptocurrencies, images of celebrities like Elon Musk are being used to trick people out of their money. Here, what to watch out for.

    illustration of Elon Musk with data over eyes being altered Illustration: Peter Thomas Ryan

    In a widely circulated video on social media, billionaire Elon Musk sits in what looks to be a Tesla facility, hawking a cryptocurrency purportedly connected to his Neuralink brain implants. "With this token, you have a unique opportunity to invest in the future of brain-machine interfaces," he says.

    More on Scams

    While Neuralink tokens are real, the video of Musk hawking them isn’t: It’s a deepfake. Using AI, scammers manipulated images of Musk to create a convincing but phony sales pitch. Victims report having lost thousands of dollars to such scams, many connected to cryptocurrency. Other celebrities that have "appeared" in deepfake scams include actor Tom Hanks, country artist Blake Shelton, and investor Warren Buffett. Here are some signs the video you’re watching might be a deepfake.

    The deal is being hawked by someone famous. Well-known investors and tech titans generally don’t endorse specific investments. If they do, the products are typically sold by credentialed financial professionals, not via testimonial videos.

    The profits are too good to be true. Deepfake celeb scams often make outsized promises, like guaranteeing you’ll double your money in a matter of weeks.

    It’s "exclusive." Scammers frame their pitches as insider info, often touting involvement by successful figures like Musk.

    It’s on social media. If you come upon a get-rich-quick pitch on Facebook, Instagram, TikTok, or YouTube, you’d be wise to ignore it.

    Editor’s Note: This article also appeared in the March 2025 issue of Consumer Reports magazine.

    Our work on privacy, security, AI, and financial technology issues is made possible by the vision and support of the Ford Foundation, Omidyar NetworkCraig Newmark Philanthropies, and Alfred P. Sloan Foundation.


    Derek Kravitz

    Derek Kravitz is an investigative journalist on the special projects team at Consumer Reports. He joined CR in 2024, covering the digital marketplace. He has worked as a reporter and editor for more than 15 years and teaches at Columbia University. Three projects he has worked on, for The Washington Post and ProPublica, have been finalists for the Pulitzer Prize. Send him tips or feedback at derek.kravitz@consumer.org or via Signal: @derek_kravitz.31