Elon Musk’s deepfake video was used in a crypto investing fake website to scam investors. Bitcoin up by 2 per cent, Ethereum by 1 per cent.
Criminals reportedly used Tesla CEO Elon Musk’s face and voice to create a deepfake video in order to dupe crypto investors.
What the criminals did was create a fake crypto exchange called ‘BitVex’ and used Elon Musk’s deep fake video as a propaganda tool and promised investors up to 30 per cent returns. Deepfake cyber hacks are on the rise.
Bitcoin’s Price
Bitcoin and the altcoins are consolidating above their support levels. For the past week, the cryptos are presently defending their previous lows as the selling pressure subsides. The largest cryptocurrency and the altcoins will regain bullish momentum if the current support levels hold. However, if the bears break these current support levels, the downtrend will resume.
Bitcoin’s (BTC) price is in a downward correction but has resumed a sideways trend. Since May 12 price slump, the bearish trend has subsided as Bitcoin resumes a range-bound move. For the past week, BTC/USD has been fluctuating between $28,000 and $32,000 price levels.
The BTC price is making an upward move towards the $32,000 resistance zone. Bitcoin can also be repelled at the 21-day line moving. Since May 13, the bulls have had to defend the $28,000 crucial support. On the upside, if Bitcoin rebounds, the market will rally above the $32,000 resistance level. The bullish momentum will extend to the $40,000 psychological price level.
