Elon Musk Scam: Bitcoin fraudsters cheat investors out of millions

Elon Musk Scam: Bitcoin fraudsters cheat investors out of millions

With investment in Bitcoin Hat tesla-chef Elon Musk Contributed to publicity about crypto currencies – and also gave the views of fraudsters. According to a report by the US Consumer Protection Agency FTC (Federal Trade Commission), investors lost more than $ 80 million in cryptocurrency fraud between October 2020 and March 2021. Fraudsters pretending to be Elon Musk attacked more than two million US dollars, “financial Times«From Officers’ Reports.

The FTC reports a “huge increase” in fraud with cryptocurrency. Over a six-month period, more than 7,000 fraud cases were reported – twelve times more than in the previous year.

Fraudsters have created highly developed websites that entice investors for alleged investments in cryptocurrency. After payment, the assumption is made that the notional investment is increasing in value. A common scam was that a celebrity like Elon Musk allegedly made a promise that in the event of an investment, investors would get more value back.

Investors lost an average of $ 1,900 in the scams. Often they were promised tips or cryptic secrets about crypto currencies.

»Just Lie«

The authority spoke of a “wild west mood” regarding cryptocurrency. Young consumers in particular will be lured by promises of high returns. The FTC wrote that consumers under 30 lost more money in investment scams than any other type of scam. The regulator warned, “promises of huge guaranteed returns are just lies.”

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