A woman who was caught up in the recent Dogecoin hype said she that she lost more than $12,000 because of a social media scam.
What is the Dogecoin scam?
Some Dogecoin investors found themselves victims of a scam related to Tesla CEO Elon Musk’s appearance on “Saturday Night Live” earlier in May.
The scammers then included links to websites with advertisements that said people could double their investment of cryptocurrency, as I wrote for the Deseret News.
- “Elon Musk has devoted 500,000,000 DOGE to be distributed to all DOGE holders. Anybody can get some, just visit the website,” one of the livestreams messages read, according to Business Insider.
Basically, users were asked to send their dogecoins or cryptocurrencies to the website and double their money. This proved to be a…