Why would you think in 48 hours after yeast pitch that it would be ANYTHING OTHER than yeast? And what would give you any thought that MOLD would be forming in such a short time? Yeast is going to start forming any time between 24 and 72 hours, ESPECIALLY if you didn't make a starter.
Why do folks automatically assume that whatever they see is something bad??? Fermentation is ugly and stinky even when perfectly normal.
Mold is something that people get if something is sitting stagnant for weeks if not months. Not something that's going to develop so soon after they moved the wort into a clean, sanitized vessel.
And besides if mold DID develop on TOP of your fermented beer, all you would need to do is rack below the mold, and the beer would be fine. Mold doesn't mean our beer is bad. Mold develops on the surface of something in the presence of oxygen, it actually ends up protecting the beer, which is in an anerobic environment...It's usually perfectly fine and drinkable below the mold. Many of us have racked and drank beer that did have some mold on it, like if it's been in a secondary for months and the airlock has dried out. Which is one of the RARE situations where mold could actually form.
And in most situations that beer is fine. It can't harm you, because no matter what kind of infection a beer might get, even mold growing on it, nothing that can harm you can exist in the acidic, boiled, hoppy and alcoholic environment that beer is. The only types of infections that can grow in beer, lactobasilus, aecetobactor, pediococcus (sp) are not harmful to human consumption, they may not taste pleasant (though sometimes they do to sour beer fans, or fans of MALT VINEGAR (Acetobactor))
But they can't harm you. Even mold.....
It's not going to form in an active environment where yeast is consuming sugars, waking up from lag, and being forced to reproduce in situ because you didn't make a starter for it. There's a lot going on on a micro level in our fermenters, even when we think nothing is happening.
I bet today you have an even larger krausen forming.