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https://www.productionai.institute/graph/events/evt-aiid-795

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Production AI Institute public record · AI Incident Database: Deepfake Elon Musk Videos Have Reportedly Contributed to Billions in Fraud · observed 2024-12-16
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AI Incident Database: Deepfake Elon Musk Videos Have Reportedly Contributed to Billions in Fraud

Scammers used AI to create deepfake videos of Elon Musk promoting fraudulent investment opportunities. Over time, these scams have reportedly led to billions in investor losses. The deepfakes also use voice cloning technology. They have been distributed on social media and YouTube. In particular, they target the elderly, such as 82-year-old Steve Beauchamp, to invest significant sums. Despite efforts by platforms to remove these videos, the scams continue to proliferate.

AI Incident Database · Incident 795

Operator lens (medium): inspect D2 (output validation), D7 (tool permissions), D8 (provider fallback).

Confidence
82%
Sources
3
Entities
10
Detected
detected 580d ago

Event summary

Scammers used AI to create deepfake videos of Elon Musk promoting fraudulent investment opportunities. Over time, these scams have reportedly led to billions in investor losses. The deepfakes also use voice cloning technology. They have been distributed on social media and YouTube. In particular, they target the elderly, such as 82-year-old Steve Beauchamp, to invest significant sums. Despite efforts by platforms to remove these videos, the scams continue to proliferate.

D2D7D8

Linked entities

  • deepfake-technology-developers

    organisation | 70%

  • unknown-deepfake-creators

    organisation | 70%

  • scammers

    organisation | 70%

  • elderly-investors

    organisation | 70%

  • cryptocurrency-users

    organisation | 70%

  • online-investors

    organisation | 70%

  • social-media-users

    organisation | 70%

  • retirees-seeking-investment-opportunities

    organisation | 70%

  • steve-beauchamp

    organisation | 70%

  • elon-musk

    organisation | 70%

Related graph edges

EdgeTypeConfidence
ent-aiid-deepfake-technology-developers to ent-psf-d2maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d2maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d2maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d6maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d6maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d6maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d7maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d7maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d7maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d1maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d1maps to60%
ent-aiid-deepfake-technology-developers to ent-psf-d1maps to60%

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Event dates

  • Happened 14 Aug 2024

  • Detected 16 Dec 2024

Sources

  • AI Incident Database - Incident 795

    secondary | checked 9 July 2026

    Open source
  • Deepfakes of Elon Musk are contributing to billions of dollars in fraud losses in the U.S.

    secondary | checked 16 Dec 2024

    Open source
  • How ‘Deepfake Elon Musk’ Became the Internet’s Biggest Scammer

    primary | checked 15 Sept 2024

    Open source
Cite this record

"AI Incident Database: Deepfake Elon Musk Videos Have Reportedly Contributed to Billions in Fraud." https://www.productionai.institute/graph/events/evt-aiid-795 (observed 2024-08-14; retrieved 2026-07-19). PAI.

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