Elon Musk impersonators have stolen more than $2 million in cryptocurrency since October

Elon Musk impersonators have stolen more than  million in cryptocurrency since October

Elon Musk impersonators have stolen more than $2 million in cryptocurrency since October

Customers misplaced over $2 million in cryptocurrency to scammers impersonating Tesla and SpaceX CEO Elon Musk during the last six months, the Federal Commerce Fee reported Monday.

“Guarantees of assured large returns or claims that your cryptocurrency might be multiplied are at all times scams,” the fee mentioned in its Monday report.

For years, scammers have posed as Musk in order to fraud social media customers out of cryptocurrency. They use misleading ways on websites like Twitter, typically utilizing the identical avatar pictures as Musk’s personal account and barely misspelling his username. Pretending to be Musk, the scammers will ask victims to ship forex to a particular pockets deal with in alternate for receiving a bigger fee in return. The scams violate Twitter’s policy against deceptive accounts, however moderators have struggled to rein in the exercise, and it stays prevalent on the platform.

The $2 million determine was revealed in a bigger report on cryptocurrency printed by the FTC on Monday. Since final October, shoppers reported shedding more than $80 million in cryptocurrency scams, growing “more than ten-fold year-over-year,” the fee mentioned. Customers lose round $1,900 by these scams on common.

Musk himself was a goal in one of many largest Twitter bitcoin scams final summer time. In one of many largest breaches in Twitter historical past, attackers compromised accounts belonging to Musk, President Barack Obama, President Joe Biden, Invoice Gates, and even Apple to advertise a bitcoin rip-off. The attackers acquired almost $120,000 from the rip-off that compelled Twitter to dam all verified customers from posting new tweets for a number of hours.


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