FRAUDSTERS impersonating Elon Musk have stolen more than $2million in cryptocurrency scams, the US Federal Trade Commission said on Monday.
In one type of scam, people are told that if they give a certain amount of cryptocurrency to a “celebrity” they will get more back.
“People have reported sending more than $2 million in cryptocurrency to Elon Musk impersonators over just the past six months,” the FTC said.
Scammers also impersonate government authorities or a potential romantic partner, the FTC said.
Overall, nearly 7,000 people reported losses of more than $80 million since October, with a median loss of $1,900, the agency said.
That’s twelve times more reports of scams than the same period a year earlier, the agency said.
Read our cryptocurrency live blog below for the very latest updates…