So-Called Elon Musk Crypto Scams Are Out Of Control

Hey you. You like to get into the crypto craze? Wanna dive in and invest most of whatever your savings left to get into the short term profit for something that was made for mostly long term gain? Well, why not take that risks with these scams? Am sure the money you’ll gamble and lose to see whether they’re real or not, would be worth it.

Here’s the thing though, question isn’t whether you coulda, but more of if ya shoulda. Wish Elon Musk would have asked himself that when he started promoting Dogecoin like crazy. Right before dropping Bitcoin as the accepted payment method for Tesla, comes fake Twitter accounts disguised as Twitter or any celebrities you’d find trying to be associated with the crypto jaze (when they actually aren’t).

A lot of these fakes are stolen verified Twitter accounts that have changed their name but not their handlers. These fake accounts are posting links to giveaway traps which was meant to steal your money with the false pretense of helping you profit. By buying crypto at this price, you’ll earn double back. Kind of stupid since that’s not how asset trading and growth works. So it was quite a dead giveaway, obviously. Some people, though, pretty much fell right in. Even if they did a little research. Yeah no, little don’t cut it in this game.

Waste Not, Want It Hot


A little while ago, the crypto bubble burst after China’s takedown for speculative market which was once considered as China completely banning cryptocurrency. Right before Musk decided to renege on allowing Tesla to Bitcoin. Because of these, the crypto cap around the world crashed back to 1.3 Trillion in USD. Though right now, it’s gaining footing, with nice boost and surge in several altcoins. Right now, it recuperated to 1.7 Trillion.

So understandably, the momentum hasn’t ceased, and it’s high time to get in while it’s pretty low to this point. So, no FOMO, right? Well, it’s one thing to invest and get the returns with gains when you’re sure that you’ve gotten the work done in trusted channels. This wasn’t the case here.

People are so desperate, they’re putting their mortgage money and financial savings into it. One story is from this woman from the UK, who saw the opportunity to make quick bucks. So she signed in to what she thought was legit. Turns out her 9000 GBP was stolen, that she stated was going to her mortgage payment before she spent it on crypto.

This other guy, just wasted half a million GBP on something he assumed was a big deal and was going to rake in big bucks. Didn’t. He lost his retirement pension, his savings, the money he saved for trips with his wife and kids. He went to his wife and confessed the situation. Even knocked and begged the scammers to give some of the money back, before realizing that it’s gone forever. Feeling morose, he decided to complain to the BBC before I started writing this.

Cryptocurrency Isn’t For Everybody

So ah, my advice would be to do some long research. A lot of research. Find trusted vaults. Use exchanges that are legit and have a lot of presence around the crypto market. Just be wary about anything that has little going on, they can pull some exit scams, *cough*ATOMARS*cough*.

Some info here is a week or two old. But the scams are still going strong. Crypto isn’t something you get into without knowing what it is about. These digital assets have value, encrypted data that comes in different forms. Some don’t, some actually do. It’s complicated. Just don’t sink your entire savings into this without realizing what you’re getting into.

Did you enjoy reading this article? Then read more about Elon Mush isn’t giving Dogecoin a rest

Written by Excalibruh

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