Man Loses $560,000 in Bitcoin Rip-off From Faux Elon Musk Account

   2021-03-21 07:03

It began when a 42-year-old German man named Sebastian noticed a mysterious tweet that he thought was from Elon Musk, studies Entrepreneur:

“Musk tweeted ‘Dojo four Doge’ and I puzzled what it meant,” the person recounted. “There was a hyperlink to a brand new occasion beneath, so I clicked on it and noticed that it was gifting away bitcoins!”



Like many onlookers, Sebastian clicked on the hyperlink and got here to an internet web page that appeared reliable. There he discovered a countdown timer and a quiz, supposedly run by the Tesla workforce. The dynamic consisted of sending from 0.1 bitcoins (with an approximate worth of 6,000 {dollars}) to 20 bitcoins (about 1.2 million {dollars}), with the promise of doubling the quantity on the finish… On the time of the fraud, his 10 bitcoins had been price about $560,000 (about 11.5 million Mexican pesos).

After double checking the verification brand subsequent to Elon Musk’s title, he determined to take part. “‘Take the utmost,’ I assumed. That is undoubtedly actual, so I despatched 10 bitcoins,” mentioned Sebastian…Sebastian’s 10 bitcoins are the most important recorded quantity ever misplaced in a single such transaction, mentioned Whale Alert, an Amsterdam-based blockchain analytics firm.

In line with analysts, in the course of the first quarter of 2021, the rip-off gangs have made greater than $18 million on this manner. This quantity exceeds the $16 million {dollars} that they obtained throughout all of 2020. Relating to the variety of victims, in 2020, some 10,500 folks fell for such a fraud. Nevertheless, to date in 2021, there have already been 5,600 victims (and counting).

Learn extra of this story at Slashdot.


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