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The Scam of Tesla Doubling Crypto Assets is becoming viral on social media due to fake videos of Elon Musk and fake websites that promise that “your Bitcoin, Ethereum, Dogecoin, and Tether will double.” The fake broadcasts attracted a lot of attention; one received 60,000 views and an additional 45,000 views before they were removed.
This is a typical scam technique in which people are made to believe they would receive twice as much cryptocurrency or even more in exchange for sending their funds to a scammer-owned wallet address. In actuality, people cannot get back their losses when cryptocurrency is transferred to fraud artists. To seem genuine, these false giveaways usually use the names of popular people or firms.
Here's a closer look at each step of this scam's operation:
Elon Musk Cryptocurrency Scam
The cryptocurrency scam is an advanced system of phoney media and websites intended to trick customers into giving up their cryptocurrency holdings on false information.
1. Tesla 2x Bitcoin Scam Video
This scam began with fictitious marketing giveaway videos. These fake data AI films of Elon Musk are hosted on popular social media platforms and have a voiceover promoting a particular Tesla promotion. In this fake video, Elon Musk is surrounded by a big banner that reads, "Scan the QR code," as he asks the crowd to do so. Before setting up poised missiles, scan the QR code to transform your life.
According to him, Tesla will return twice as much cryptocurrency to the sender's wallet for each amount transferred to the designated wallet address. Deepfakes have advanced to the point that they sound and look nearly true, giving the impression that Musk is encouraging this giveaway.
AI-generated Elon Musk said, “Let’s make this evening unforgettable and double your wealth with Tesla.”
2. Tesla Crypto Scam Website
The videos lead viewers to go to a link that leads to a website that seems official and clearly displays the Tesla logo. But this website is a complete scam. It is hosted outside of Tesla's domain and is made specifically to trick people into giving up cryptocurrency.
This fraudulent website restates the claimed giveaway offer, going into further detail to say that Tesla will apparently return twice the amount sent to a specified wallet address if you send any amount between 0.1 and 15 BTC, 1 to 200 ETH, 1,000 to 500,000 USDT, or 20,000 to 5,000,000 DOGE.
Fake Domains | 1. tesla.crypto-event[.]net 2. spacexlaunch.pages[.]dev |
Scammers Wallets | 1EBXv7JZRQfqBjAFqXsWQ4oA43a9rApjJ4 (Bitcoin) 0xc98ad7b1dc11286358a12dd4cdfe22fd98d97232 (Ethereum) |
Distribution techniques | Stolen social media accounts, Website compromises, fraudulent online pop-up advertisements |
Symptoms | No legal proof, pretending popular personalities, and deals that look too good to be true. |
The main title of this Website was:
“BIGGEST CRYPTO GIVEAWAY OF $100,000,000”
3. Tracking Display
Scam websites provide a tracking area that seems to display the giveaway activity for added fraud. They claim that counters monitor total participants, and send and receive money as if they are doubling and returning money. This entire display is fake in real. Money is only ever taken and never paid out.
Fake videos, fake websites, phoney wallets, and manipulated trackers combined create an incredibly convincing mask for this scam, which has already fooled a large number of people.
Similar Scams
Scammers usually use fake cryptocurrency giveaways to scam innocent people into parting with their money. People need to pay attention and confirm the integrity of such claims before transferring online assets or supplying information because these scams typically use famous people or businesses to look official and grab victims with enormous returns.
A few generally comparable scams are:
- Elon Musk Twitter Giveaway Scam
- FIFA Crypto Giveaway Scam
- ARK Crypto Giveaway Scam
Things to do If you Lose your Crypto in this Scam
Here are some steps to take if you send your cryptocurrency to these fake websites and lose all your money.
- Inform the Authorities
Inform the FBI, cybercrime agency, or your local police department of this fraud and your circumstances. Give any relevant information and indicate that you need support reclaiming cryptocurrency funds that have been stolen.
- File a Report
Report the fraudulent websites, social media pages, and videos right away. To stop more people from becoming victims, contact the holding platforms, file complaints, and insist that the false content be removed.
- Inform your Broker
Inform them of the fraudulent transfer if you're using an exchange like Coinbase. Likewise, notify any hosted wallet providers. When it's feasible, ask them to try preventing more transactions.
- Speak with Recovery Specialists
Get in touch with experienced crypto recovery companies to help in tracking down and restoring stolen digital assets. They might possess assets and blockchain analysis technologies that the authorities do not.
- Alert Others
Publicly announce this scam's presence to stop others from falling for it. To increase the scam’s awareness, distribute posts, information, wallet addresses, and materials on the internet.
Even if recovering losses is quite challenging, the best chance is to follow these measures. In the future, remember that authentic giveaways will never want cryptocurrency from you in order to participate; this indicates fraud.
Stay Away from Fake Pages
Check the validity of the URL before viewing any page. Be careful when visiting websites that offer free cryptocurrencies, investment possibilities, or similar attractions.
- Never click on buttons, notifications, advertisements, or similar content on doubtful websites.
- Never give your agreement to get warnings from websites that seem suspect.
- Never click on links or downloads from spam messages that you do not know who sent them.
- For better protection, make sure your installed programs and operating system are up to date, and use reliable safety software.
- Download apps from only trustworthy sources, such as official websites and app shops.
- If unsuitable apps are already on your computer, we advise doing a scan to remove them quickly.
How to Recognize the Scam?
Social Media identification:
Verify whether the video is a clear deepfake. Take a moment to scan for unusual items, problems with lip sync, fuzziness, or other indications of AI control. A link in the comments section or video description points to an unapproved website. Valid advertisements would direct viewers to Tesla's website. The account publishing it is either completely fresh or has no other stuff.
Website identification:
Fake websites’ domain names will not be official but mimic the official page. Verify the URL thoroughly. The copy page design, typefaces, and branding made the content look authentic. The scammers look just like them. They present fictional statistics to make the number of participants, deposits, and transactions seem real.
Pop-up window display:
One popular kind of temptation used by scammers is pop-up windows displaying various fake information messages. They gather private information about people, deceive them into fake tech assistance numbers, subscribe to pointless services online, participate in doubtful cryptocurrency schemes, and so on.
The following elements are frequently present in scams:
- Examine the data in a pop-up window carefully. Spelling errors and informal photos may indicate fraud.
- A timer meter with a few remaining minutes compels you to register for an online service or enter private data.
- If you face a pop-up window claiming to be the winner even though you haven't entered a prize draw, online competition, etc.
- A pop-up dialogue that checks your device and reports any problems it finds is definitely a fraud; websites aren't meant to do that.
- They promise you rapid profits via a financial system that is secretly accessible to you only.
Frequently Asked Questions
Q. Which cryptocurrency is associated with Elon Musk?
Elon Musk's crypto coin ($MUSK), a meme coin, appeared in the market on April 27, 2023. This asset is a dedication to Elon Musk, an iconic figure who is frequently linked to memes. Representing the fundamental ideas of blockchain technology, the $MUSK token runs on a decentralized network.
Q. Will Binance repay if I am deceived?
If they find that you were truly scammed, they might be able to look into the matter and possibly return your money. If you believe you have been defrauded on Binance, get in touch with customer service right away, supply any relevant details, and attempt to get your money back by following their instructions.
Q. Is Crypto Future a fraud?
Stay away from Crypto Future Invest since an approved authority doesn't oversee it. The first step to protecting your savings is to stay away from brokers who have no legal oversight.
