Elon Musk Imposters Have Stolen $2 Million In Crypto Scams

Share post:

The US Federal Trade Commission (FTC) recently revealed in a report that more than $80 million has been lost to crypto-fraud since October 2020, and that those who impersonated Tesla CEO Elon Musk earned more than $2 million.

Since October, 7,000 complaints have been filed.

The commission also found that losses to scammers, embodied by Musk and other celebrities around the world, rose to nearly 1,000% between 2019 and 2020.

Crypto scams often start as investment tips on online news portals.

These “tips” then lure people to fake investment websites.

The report also claims that while scammers often fake celebrity accounts by copying their profile pictures and selecting usernames that resemble real accounts, they sometimes hack profiles instead of imitating them.

For more information, read the original story in BBC.

Featured Tech Jobs

SUBSCRIBE NOW

Related articles

Is OpenAI critical infrastructure? Hashtag Trending, Friday April 26, 2024

OpenAI wants you to think about them as critical infrastructure.  Meta’s stock tanks as Zuckerberg delivers his future...

Spotify CEO confesses to “rough times after layoffs” – stock price rises

In December, Spotify CEO Daniel Ek announced the largest round of layoffs in the company's history, cutting 1,500...

IBM acquires HashiCorp in strategic purchase – investors unimpressed

IBM has announced the acquisition of HashiCorp, a well-known provider of open-source tools for infrastructure automation, for $6.4...

Zuckerberg shares his vision with investors and Meta stock tanks

In an era where instant gratification is often the norm, Meta CEO Mark Zuckerberg’s strategic pivot towards long-term,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways