Here’s How Much Elon Musk-Related Scams Have Cost Traders and Investors

Here’s How Much Elon Musk-Related Scams Have Cost Traders and Investors
Souvenir tokens representing cryptocurrency Bitcoin plunge into water, on May 17, 2022. Dado Ruvic/Illustration/Reuters
|Updated:
0:00

An estimated $5.4 million worth of cryptocurrency has been lost to scams perpetrated in the name of Tesla CEO Elon Musk from 2018 to May 2022, an analysis conducted by blockchain visualization and risk mitigation software company Blockchain Intelligence Group (BIG) has revealed.

The research further indicates from 2018 to May 2022, a total of 2,703 people possibly fell victim to such scams.