Mar 16, 2021

Bitcoin: Fake Elon Musk giveaway scam 'cost man £400,000'

Sebastian followed the link to a professional-looking website where the Bitcoin giveaway looked to be in full swing. Sebastian double-checked the verification logo next to Elon Musk's name, and then tried to decide whether to send five or 10 Bitcoin. "We don't have any data to explain it, but it could be related to the wider Bitcoin market. When the Bitcoin price goes up, people go crazy and a lot of them are new to the market and they want this idea of quick money," said Mr van Weert. "The people falling for the scams are not uneducated. We've received emails from people who have lost Bitcoin and they are very articulate." Sebastian wants international authorities to take action against the scammers and would like to see the owners of Bitcoin exchanges be proactive in helping.

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