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Another day another scam, the YouTube channel of Australian broadcaster 7News became the latest victim of a well-executed crypto scam. The YouTube channel was compromised by hackers to broadcast Elon Musk deepfake videos promoting fake crypto giveaway scams. 
<h3 id="span-detailed-analysis-of-the-scam-span">Detailed Analysis of the Scam</h3>
The deepfake videos offered a believable Elon Musk urging viewers to send Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) to specific addresses, with the false assurance of doubling their investment. This scam is not new but resumes to trap unwary individuals due to the use of deepfake technology and the exploitation of trusted platforms.
At the peak of the scam, around 150,000 viewers were monitoring three livestreams on the hijacked channel. It stays suspense how many of these spectators were real and how many were bots used to inflate the numbers artificially.&nbsp;
Despite broken links to the 7News YouTube channel, the verification tick stayed, adding a false sense of legitimacy to the scam.
A spokesperson for the Seven Network acknowledged the violation and ensured that steps were being taken to fix the situation.
Meanwhile, the scam has raised concerns over the safety of YouTube channels belonging to respectable institutions and the possibility for deepfake technology to be used maliciously.
<h4>Is Deepfake Technology a Growing Threat To the Digital Age?</h4>
The use of deepfake technology in scams is a growing problem. Earlier this month, over 35 YouTube livestreams featured fake Elon Musks in identical <a href="https://www.coingabbar.com/en/crypto-currency-news/metallica-social-media-account-hacked-shocks-fans" title="Metallica Social Media Account Hacked; Shocks Fans" class="f-link" rel="noopener noreferrer nofollow">scams</a>, timed to coincide with SpaceX's Starship rocket launch.
Additionally, a firm in Hong Kong was shut down by the securities regulator for operating AI-faked videos of Musk to advertise a non-existent AI crypto trading service.
<h4>The Role of Platform Accountability</h4>
As digital platforms become central to our daily lives, the responsibility of tech companies to protect their users becomes crucial. The 7News YouTube channel breach highlights the need for strong security protocols and real-time monitoring to control such illegal activities.
It is not just the responsibility of users to be careful; platforms must proactively combat the abuse of their services to keep confidence and trust in the digital ecosystem. This incident should initiate a reexamination of safety procedures to prevent future occurrences.
<h4>Conclusion</h4>
The recent hijacking of 7News' YouTube channel acts as a stark reminder of the evolving nature of online scams. The mixture of deepfake technology and social engineering poses a notable threat to digital protection. As scammers become more refined, it is crucial for people and institutions to stay vigilant and for platforms like YouTube to improve their security standards to guard against such fraudulent actions. The incident also underlines the demand for public education on the risks associated with <a href="https://www.coingabbar.com/en/crypto-currency-news/meme-coin-dorae-plummets-developer-suspected-of-rug-pull" title="cryptocurrency" class="f-link" rel="noopener noreferrer nofollow">cryptocurrency </a>investments and the importance of verifying information from trusted sources.
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The Rise of Deepfake Scams: 7News YouTube Channel Hijacked

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