Fake Elon Musk Uses AI to Scam Korean Woman Out of $50,000

By John Lopez

May 17, 2024 05:03 PM EDT

A South Korean woman fell victim to an elaborate scam by an impersonator posing as tech billionaire Elon Musk.

According to the South China Morning Post, the scammer used artificial intelligence (AI) to rip off the victim of around 70 million Korean won ($50,000).

Scammer Poses as Elon Musk Utilizes AI to Defraud Korean Woman

Using AI-generated audio and a fabricated social media profile supposedly belonging to Musk, the imposter created a convincing persona.

The scammer later shared personal details about Musk's life, like family events and frequent visits to Tesla and SpaceX locations, to make the ploy more believable. Over time, the victim's doubt diminished as the information aligned with news reports about the tech mogul.

The elaborate fraud continued with video calls, where the victim was shown someone who resembled Musk. Strangely, the con artist pretending to be Musk started to show the victim affection by saying things like, "Hello. I love you, do you know that?"

To sweeten the deal, the scammer provided Korean bank account information and even created a "Citizen of Mars" ID with the SpaceX CEO's ID number on Mars as 00001 and Earth as his place of birth.

Despite initial doubts, the victim still succumbed to the scheme, transferring 70 million Korean won to the designated account in August.

This type of scam is known as a pig butchering scam, in which victims are gradually convinced to give out increasing amounts of money. These scams thrive on social media platforms, where scammers gain victims' trust before convincing them to invest.

US-TECHNOLOGY-AI-DEEPFAKES-DISINFORMATION-MISINFORMATION — This illustration photo taken on January 30, 2023 shows a phone screen displaying a post on Elon Musk's Twitter account stating "Yikes. Def not me" with an allegedly fake video of him promoting a new cryptocurrency scam shown in the background, in Washington, DC. Chatbots spouting falsehoods, face-swapping apps generating fake porn and cloned voices defrauding companies of millions -- governments are scrambling to regulate AI-powered deepfakes widely feared to be a misinformation super spreader.
(Photo : Photo by OLIVIER DOULIERY/AFP via Getty Images)

Elon Musk Scam

According to data from the Global Anti-Scam Alliance, such fraudulent activities accounted for staggering losses exceeding $1 trillion in 2023, with Asia emerging as a prominent hub for such criminal enterprises.

In related news, the Hong Kong Securities and Futures Commission recently issued a warning about a cryptocurrency scam that uses a deepfake of Elon Musk to lure victims.

Additionally, a multinational corporation headquartered in Hong Kong fell victim to a deepfake scam in February, incurring a significant loss of HK$200 million ($25.6 million).

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