Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

'Elon Musk' scams thrive on social media

'Elon Musk' scams thrive on social media

No, Elon Musk isn’t going to offer you a free watch or free Bitcoin on Twitter – but scammers will.

Scammers are students of human psychology, whether it’s duping you into clicking on a bogus email or offering fake free stuff on social media.

And dropping Elon Musk’s name into a scam to lure the unsuspecting is a popular strategy for crooks, according to a new report.

"Elon Musk is an incredibly popular target for scammers and spammers on social media. Attach his name to something he has no involvement in and watch it fly," Malwarebytes Labs said this week in a blog post.


Since October 2020, reports to the Federal Trade Commission of cryptocurrency scams have spiked with almost 7,000 people reporting losses of more than $80 million with a median loss of $1,900, according to the FTC.

That's about 12 times the number of reports and nearly 1,000% more in reported losses compared to the same period last year, the FTC said.

Recognized names


The giveaway scams typically trade on famous names. More than $2 million in cryptocurrency was lost to Elon Musk impersonators over just the past six months, according to the FTC.

Malwarebytes says one scam making the rounds starts like this: a Twitter account goes viral with a popular tweet. Then a bot account replies with a screenshot. In this case it appears to show Elon Musk, on Twitter, saying:

"Just google 'Topmid Dust Watch' and thank me later," – a reference to a map in the popular video game "Counter-Strike."

Dropping Elon Musk’s name into a scam to lure the unsuspecting is a popular strategy for crooks, according to a new report.


These schemes "usually lead to portals ‘selling’ the item for a grand total of $0," Malwarebytes said.

What the scammers want is your address and credit card information to ship you the "free" product, according to the report.

Generally speaking, you should avoid products in the replies of social media posts, Malwarebytes said.

"The same goes for promotions pushed by accounts you know, or even verified accounts. There’s always a chance what you’re seeing is the result of a compromise," the report said, adding "you’ve no idea what waits at the other end of a link."

The aim of the ploy is to bypass spam detection, Malwarebytes said. Gmail and Outlook, for example, detect most scams and spam, so it can be a challenge for scammers to get through these filters set up by Google and Microsoft, respectively.

Bitcoin is a favorite too


A scammer posing as Elon Musk walked away with $560,000 back in February.

In that case, a man received a Twitter notification that appeared to be from Elon Musk.

"Musk tweeted, 'Dojo 4 Doge?’" the man told the BBC, referring to the cryptocurrency dogecoin.


The fake competition invited participants to send up to 20 bitcoin (over $1 million at the time) and they would double their money. The man sent 10 bitcoin and lost it all to the scammers.

It was the most ever lost in a single transaction, the BBC said, citing Whale Alert, which tracks cryptocurrency transactions.

Scammers made $18 million in the first three months of this year, eclipsing the $16 million made in all 12 months in 2020, according to Whale Alert.

"Unfortunately it's very easy for con-artists to create social media accounts and impersonate people," Bitcoin.org says on its website.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
×