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According to recent reports, there has been an increase in the number of cryptocurrency scams on Twitter recently, attempting to trick unsuspecting investors into handing over their money to scammers. However, these scams take a different approach than standard ICO scams. Instead, they rely on impersonating Elon Musk, the CEO of Tesla and SpaceX.
Elon Musk imposters are common
Musk is a well-known entrepreneur who has founded many companies and has become a popular online personality along the way. He is known for using Twitter to publicize new achievements of his companies, while also participating in some pop culture spheres.
However, Musk is not known for his involvement in the cryptocurrency industry. In fact, he is particularly careful not to even hint that he is a cryptocurrency investor or supports any projects. The only instance in which he directly supports cryptocurrency is when he commented on Bitcoin, calling it “brilliant.”
Beyond that, Musk has kept his distance and allowed the cryptocurrency industry to develop without his involvement. However, this is also a fact that many investors are unaware of, which is why scammers often try to impersonate him to draw attention to fake projects or campaigns.
According to recent reports from the British media, a series of cryptocurrency scams have appeared on Twitter recently. Some of the ringleaders attempted to impersonate Musk in order to trick investors into sending funds to the scammers' wallets.
This latest type of scam offers a brand new Tesla Model S to anyone who sends 1 BTC or 10 ETH to a specific wallet address. The scammers also claim that this incredible opportunity was created by the official marketing department of Tesla Motors to increase awareness of Tesla vehicles.
Of course, none of this is true, and the scam may seem obvious at first glance. However, many cryptocurrency users have reportedly been duped recently. The scammers also praised cryptocurrency for its transparency and identified it as the “best asset.”
Musk's name is being used in this way
As some may know, this is not the first time that Elon Musk’s name has been used to defraud gullible cryptocurrency investors on Twitter. Last year, in 2018, Musk was targeted by a whole group of Ethereum scams and spam bots. One of these was the well-known “Bitcoin Revolution” scam.
This led to Twitter banning any accounts using his name, although the rule was later reversed. Now, it appears bad actors are taking advantage of the opportunity again.
It should also be noted that Musk is not the only high-profile person to be scammed in this way. Another celebrity whose name has been similarly misused is that of former Top Gear star Jeremy Clarkson.
Clarkson's name has also been implicated in a scam known as "Bitcoin Revolution," which has been fairly infamous since its inception. The scam revolved around creating fake articles mentioning a number of celebrities who allegedly supported cryptocurrencies. These articles quickly spread across social media networks, causing more people to invest in the scam and lose their money. Join our Telegram channel to stay up to date with the latest news coverage
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