Was it a scammer moving money around, or has someone made a very big mistake?
Giveaway scams featuring photos of Elon Musk and fabricated quotes have become all too common in recent months — and according to a recent report, they may be working.
According to Whale Alert, one crypto address that’s linked to such a scam recently received a transfer of 5 BTC. That’s worth more than $250,000 at the time of writing.
At this point, we don’t know whether this is simply the scammer moving some funds around… or whether a victim has just made a very big mistake.
Crypto Scams Are a Big Problem
Giveaway scams always sound far too good to be true. In this particular instance, impressionable crypto newcomers are told that, if they send a sum of between 0.1 and 10 BTC to a certain address, they’ll receive twice as much in return.
Elon Musk has become something of a de facto spokesman for cryptocurrency in recent weeks — regularly taking the opportunity to share his thoughts on the market.
But here’s something we can promise you right here, right now: He’ll never offer you free crypto. And even if he does, he wouldn’t expect you to send some to him first.