For one reason or another, Elon Musk, the CEO of Tesla and the owner of X, is in the headlines every day. He frequently shares amusing posts, by the way. Musk just posted a humorous tweet, but it serves as a warning about scammers.
Musk’s post features the Greek sea deity Poseidon. According to the caption, there’s an old proverb that says to block a hot lady if she writes you about cryptocurrency.
Block an attractive girl if she texts you about cryptocurrency. Musk made this statement to alert people against cryptocurrency frauds. The virality of this message is growing. This article has been seen and liked by over 1 crore users thus far.
What causes a crypto scam?
These days, cryptocurrency is a hot topic. People want to invest in it in the hopes of becoming wealthy rapidly. However, there are scams anywhere there is money.
Another way that cybercriminals deceive individuals and take their hard-earned money is through cryptocurrency scams. This fraud occurs in a variety of ways.
Fake investment scheme: Con artists pose as an attractive female and send you an email or post on social media promising assured profits, such as “invest Rs 10,000 and you will get double in a week!”
You send the money, but neither the website nor the profile are displayed, nor does the money return.
False cryptocurrency wallet or app: Some con artists make phony cryptocurrency wallet applications and post them on websites or the Play Store. Money flows directly to the hackers and fraudsters as soon as you deposit it.
A link that seems to be a website similar to a legitimate exchange (such as Binance or WazirX) is provided to your email or message in a phishing scam. The hackers may access all of your information as soon as you log in.
Pump and dump scheme: Some individuals attempt to gain notoriety for an obscure cryptocurrency. On social media, people give it a lot of acclaim. Once individuals put money in it, the fraudsters quickly sell it for a high price and flee, leaving the rest of the victims with losses.
The FBI research states that several instances of cryptocurrency scams have surfaced in the US alone in 2023. whereby 3.9 billion dollars, or over 32 thousand crore rupees, have been lost by people.
