Scam Alert: No, Elon Musk Isn't Dropping Ethereum Soon

Scam Alert: No, Elon Musk Isn't Dropping Ethereum Soon

A live stream being promoted on Alphabet Inc's GOOGL GOOG YouTube for some users on their homepages featuring Tesla Inc. TSLA CEO Elon Musk, Block Inc. SQ CEO Jack Dorsey and Ark Invest founder Cathie Wood is, in fact, a cryptocurrency giveaway scam.

The video, being live cast by a YouTube channel called "Ark Invest - (Corporation)," features the caption "Elon Musk & Cathie Wood ETH will drop soon. An important message for crypto investors."

Screenshot of the scam on YouTube

The YouTube channel promises to double the amount of Bitcoin BTC/USD and Ethereum ETH/USD sent to their wallet addresses.

The original video being used in this scam is from Ark's B Word conference, which took place in July 2021. This isn't the first time that a video of this conference is being used in a cryptocurrency-giveaway scam on YouTube.

Musk has previously criticized the platform for its inability to eliminate what he says are "nonstop scam ads.”

Read Next: Watch Out: These Deepfake Videos Of Elon Musk, Cathie Wood Can Lead To Stolen Crypto

Photo via Maryna Linchevska on Shutterstock

Posted In: Cathie WoodElon MuskEthereumJack DorseyCryptocurrencyNewsTop StoriesMarkets