Mix two hot trending names — cryptocurrency and Elon Musk — and, well, you’ve got a recipe for ripping people off.
During the past six months, consumers reported losing more than $2 million in cryptocurrency to Elon Musk impersonators, according to a May report by the Federal Trade Commission.
Face it, Las Vegas wouldn’t be Vegas without Elvis impersonators. And scams often aren’t the same without impersonating some celebrity, such as Tesla CEO Elon Musk.
As the Bitcoin buzz has been building, scammers have been dangling bogus investments, pretending to be someone else at times and duping consumers in record numbers.
How crypto crooks tried to steal $50,000 from a Michigan woman
Some victims, according to the FTC, also reported losing money to scammers posing as Coinbase, a well-known cryptocurrency exchange.
A Troy resident told police in March, for example, about being contacted by a so-called crypto-coin website that wanted her to send money to convert into crypto coin. The victim gave the site a copy of her driver’s license but not her banking information, according to the police report.
Chase Bank later contacted her regarding possible fraud on her account where tens of thousands of dollars suddenly were being transferred from savings to checking.
One day, $4,000 was moved from savings to checking.
The next day, the crooks transferred about $77,000 from savings to checking. And then that same day, con artists attempted to make 50 wire transfers of $1,000…