Scammers impersonating Elon Musk have stolen millions of dollars from US consumers in cryptocurrency frauds, as online financial cheats seek to capitalise on public interest in trading highly volatile cryptocurrencies such as bitcoin.
Consumers lost more than $80m to cryptocurrency scams between October 1 and March 31, according to data from the Federal Trade Commission, which on Monday reported a “huge spike” in this type of fraud.
More than $2m of the losses were to people pretending to be Musk, the Tesla co-founder and outspoken cryptocurrency enthusiast.
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