Elon Musk’s Name Continues to be Linked to Crypto Scams

Dec 04, 2018 at 20:58

The crypto industry continues to be plagued by scams posing as a verified Twitter account of renowned mogul, Elon Musk giving free cryptocurrencies in exchange for a small amount of digital assets.

Hackers managed to hack the accounts of film distributor Pathe UK and high street store Matalan by making them look like versions of the Tesla boss’ own account since it also bears the famous blue tick.

The accounts posted tweets claiming that Musk was leaving his post at Tesla and grants free cryptocurrency to mark the occasion.

According to reports, the scammers managed to collect over $100,000 worth of Bitcoin.

Last February, Elon Musk noted that the only cryptocurrency he owns .25 Bitcoin that was gifted to him years ago by a friend.

While the businessman may not be highly involved in cryptocurrency, it was reported in 2016 that he was not against the technology. When he was appointed to Trump’s team of advisers, he declared that Bitcoin was a “good thing” but did not elaborate the statement in detail.