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Tag: Federal Trade Commission

Scammers posing as Elon Musk are stealing from young investors, FTC says

CNBC — Scammers pretending to be Elon Musk have stolen at least $2 million from cryptocurrency investors over the past six months, the Federal Trade Commission said. Con artists are stealing from people in so-called “giveaway scams” where people pose as celebrities or known figures in the crypto-world. They promise to “multiply” the cryptocurrency that investors send — but pocket the crypto instead, CNBC reported. These crypto-scams have surged since October, hitting their highest level on record in the first quarter of 2021, according to FTC data. The timing line up with a...

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