this post was submitted on 29 Oct 2024
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726
Elon Musk Fans Are Losing So Much Money to Crypto Scams (gizmodo.com)
submitted 3 months ago by UnderpantsWeevil@lemmy.world to c/technology@lemmy.world
79 comments fedilink hide all child comments
 

Gizmodo filed a Freedom of Information Act (FOIA) request with the FTC to get complaints sent to the federal agency about crypto scams that pretend to be affiliated with Musk. We obtained 247 complaints, all filed between Feb. and Oct. of this year, and they’re filled with stories of people who believed they were watching ads for authentic crypto investments sanctioned by Musk on social media.

The ads sometimes featured the names of Musk’s various companies, like SpaceX, Tesla, and X, while other times they utilized Musk’s association with neo-fascist presidential candidate Donald Trump.

...

Some people in the complaints believed they were talking directly with Musk, a sadly common story that has popped up in news reports before. But they weren’t talking with Musk, of course. They were communicating with scammers engaging in what’s called pig butchering—the name for a type of fraud popularized in the mid-2010s where scammers extract as much money as possible through flattery and promises of tremendous profits if the victim just “invests” where they’re told.

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[–] jaschen@lemm.ee 25 points 3 months ago (2 children)

Can we take NASA contract away from SpaceX? Let's bring it back in house. Space should not be for profit .

[–] JasonDJ@lemmy.zip 13 points 3 months ago (1 children)

Just want to share that NASA has one of the highest ROIs of any government agency.

[–] jaschen@lemm.ee 6 points 3 months ago

I want to increase NASAs budget and go to space.

[–] zbyte64@awful.systems 9 points 3 months ago (1 children)

But then how will billionaires get to say they're literally thinking of the big picture because they got to go on a brief space joy ride?

[–] jaschen@lemm.ee 1 points 3 months ago

Arg