Elon Musk impersonators make bank as crypto scammers' profits surge
Cointelegraph
Published May 18, 2021 01:04AM ET
Updated May 18, 2021 03:00AM ET
The United States Federal Trade Commission has found that crypto scammers’ profits spiked in the last two months, noting a surge in fraudulent impersonators posing as prominent figures associated with digital assets, such as Elon Musk.
The findings report that cryptocurrency investment scams rose sharply in October 2020 as the impacts of coronavirus pandemic and lockdown deepened, with nearly 7,000 people reporting losses of more than $80 million to digital asset scams over the six months that followed.
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Written By: Cointelegraph
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