Opinion: Crypto coin scams use celebrity imposters, other tricks to steal cash

 Opinion: Crypto coin scams use celebrity imposters, other tricks to steal cash

Mix two hot trending names — cryptocurrency and Elon Musk — and, well, you’ve got a recipe for ripping people off.

During the past six months, consumers reported losing more than US$2mil (RM8mil) in cryptocurrency to Elon Musk impersonators, according to a May report by the Federal Trade Commission.

Face it, Las Vegas wouldn’t be Vegas without Elvis impersonators. And scams often aren’t the same without impersonating some celebrity, such as Tesla CEO Elon Musk.

As the Bitcoin buzz has been building, scammers have been dangling bogus investments,…

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