The US Federal Trade Commission (FTC) has recorded a tenfold increase in crypto-related investment fraud. One of such scams involve attackers impersonating Elon Musk, the CEO of Tesla, who have stolen more than $2 million in 6 months.
We are talking about scammers who create accounts on Twitter and other social networks almost identical to Musk's official profiles, and ask users to transfer tokens to their crypto wallets promising big rewards.
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Between October 2020 and March 2021, the FTC reportedly received 6,792 reports of attacks. The total amount of stolen funds exceeds $80 million.
In comparison, the FTC just received 570 complaints of cryptocurrency-related scams during the same period last year, when stolen funds totaled up to $7.5 million.