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How One Man Lost Over $500k to a Fake Elon Musk Bitcoin Giveaway Scam

Elon Musk is beloved in the crypto community, with many even believing he is the pseudonymous Satoshi Nakamoto. However, for one German man, his name will always bring up one of his worst memories. This is after he lost over $564,000 to a scam promoted on Twitter under the Tesla CEO’s name.

Sebastian was randomly browsing through Twitter one night when he saw a tweet by Musk touting Dogecoin. “Dojo 4 Doge” was all the tweet stated, Sebastian recalls in an interview with the BBC. 

Dojo 4 Doge— Elon Musk (@elonmusk) February 21, 2021It was the replies to the tweet that piqued his interest. “Elon Musk” appeared to be giving away Bitcoin, Sebastian recalls. He clicked on the link that redirected him to a ‘professional-looking website on which “Musk” requested anyone with BTC to send it and it would be doubled. Unknown to Sebastian, the site belonged to scammers who had impersonated the “Technoking of Tesla.”

On the website, the scammers urged visitors to send BTC, ranging from 0.1 BTC ($5.560) to 20 BTC ($1.1 million). They pledged to double the BTC and send it back within 20 minutes. Sebastian was sold on the opportunity of a lifetime and sent the scammers 10 BTC.

Once he had sent the funds, he watched, glued to his screen, as the timer ticked down on the 20 minutes limit they had set. Despite furiously refreshing his wallet every 30 seconds, he never received the money. 

“I threw my head on to the sofa cushions and my heart was beating so hard. I thought I’ …
Story continues on Zycrypto

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