Man Who Fell For Bitcoin Share Of Fake Elon Musk Account Swindled $ 560k

Man Who Fell For Bitcoin Share Of Fake Elon Musk Account Swindled $ 560k


A man who fell for shares claiming Elon Musk was distributing Bitcoin has lost 10 bitcoins worth $ 560 thousand to fraudsters. A guy named Sebastian is the one who gets the most Bitcoins from scammers at once.

Cryptocurrencies excite fraudsters as much as investors. Fraudsters, especially those who want to take advantage of the enthusiasm of small and amateur investors, grab the money they have saved for investment by promising people to double their money in an easy way and disappear.

A man named Sebastian, who lives in Germany, is also among the people who have cheated by taking advantage of the enthusiasm of cryptocurrency fraudsters. What makes Sebastian's story interesting and scary is that he fell into the trap of crooks who looked very professional and lost exactly 560 thousand dollars to their crooks.

Scammers increase their credibility by creating a professional-looking website

According to information quoted by the BBC, Sebastian was sitting at his house one evening playing with his phone when he saw Elon Musk's tweet notification and tweeted "Dojo 4 Doge?"he wondered what his message meant. “There was a link under it, I clicked it and I saw it handing out Bitcoin,” Sebastian explains.

Sebastian said that when he clicked on the link, he encountered a web page that looked professional and Bitcoin distribution was in full swing, and that the web page in question promised participants to double the money they invested, and in one corner a stopwatch showing the remaining time was counting down.

He sent 10 bitcoins at a time to earn more

"The contest seemed arranged by Elon Musk's Tesla team. ” This is absolutely real, I suggested to myself to play to the maximum and sent 10 bitcoins, “Sebastian said, saying that if participants sent 0.1 Bitcoins (about 6 thousand dollars) to 20 Bitcoins (about 1.2 million dollars),twice as much would be sent back to them.

After sending bitcoins, the 20-minute wait time begins, updating the screen every 30 seconds to check if their bitcoins have doubled, Sebastian says that when a new crypto tweet from Elon Musk comes, Water is sprinkled into it, and he even believes that the first tweet about bitcoin distribution is real.

All attempts to save bitcoins have been fruitless

“I realized it was a big fraud,” Sebastian said, after which, “I buried my head between the pillows on the seat, my heart rate accelerated. I had wasted the money that would change my family's life, early retirement and my dreams of going on vacation with my children. I went upstairs and sat on the edge of the bed. I woke up my wife and told her what a big mistake I had made,” she says.

As you can imagine, Sebastian didn't immediately leave behind the bitcoins he sent, thinking he had an opportunity, and sent emails to the fraudulent web page in the hope of getting all or at least some of them back. But all these attempts proved fruitless, and Sebastian admitted that he had lost hundreds of thousands of dollars.

Blockchain analysts at Whale Alert, a blockchain technology consultancy in Amsterdam, track the real-time movement of cryptocurrencies and monitor trends. In this context, the company has tried to mobilize the authorities against such fraud, but they have not received any results, he said. Whale Alert watched with horror as Sebastian transferred 10 bitcoins and cashed in by unidentified people within a few days, and they note that Sebastian's 10 bitcoins were transferred in the largest single transaction they had ever witnessed.

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