A Fake Account of Elon Musk Organized a Cryptocurrency Giveaway

elon musk was involved in a twitter scam

A Twitter account that pretended to be the CEO of Tesla, Elon Musk, tried to fool the community into sending him/her Bitcoins. The weird fact is that this account had a verification check which could possibly deceive a lot of people.

The original tweet was quickly deleted, but some users managed to document the evidence.

This scam raised a new wave of criticism because of the social networks’ inability to protect their users from scams and frauds.

We remind you:

Elon Musk: “I Want Ethereum, Even If It’s a Scam”

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Elon Musk: Bitcoin Is Good, But Not For Tesla

Elon Musk has recently made a statement showing his attitude towards cryptocurrency and financial world as a whole. He supports Bitcoin, yet, it will not bring good for Tesla.

Elon Musk is a well-known technology entrepreneur and engineer with a fortune of $22.8 billion, he projects, like SpaceX, Tesla, PayPal, cover different areas of live, meanwhile they are competing to other companies at a high level. Musk is also a socially active person, he likes to post tweets sharing his thoughts about what is happening in the world. Though, sometimes it may bring consequences, like it was in July last year, when the SEC sent a request to Tesla regarding tweets of Elon Musk.

Furthermore, he freely expresses his attitude towards cryptocurrency. Once he even claimed how many Bitcoins he actually possessed. The Twitter community blowed up every time when Musk speaks about cryptocurrency. For instance, in October 2018, Elon posted a tweet about his love for anime and offered a subscriber to buy Bitcoins.

Twitter even blocked his account for a certain period of time to make sure he was the author. So, this time the world has gone mad, when Musk expressed his feelings about financial system and Bitcoin, in particular,  in the podcast “On the Road to Full Autonomy With Elon Musk.”

“Paper money is going away. Crypto is a far better way to transfer value than pieces of paper, that’s for sure,” he said. “Bitcoin’s structure is brilliant but I don’t think it would be a good use of Tesla’s resources to get involved in crypto.”

Furthermore, Musk added that Bitcoin has its pros and cons, yet, what he is really concerned about is crypto mining, to create one Bitcoin, people use high-powered computers to solve a complex math problem.

“We’re really just trying to accelerate the advance of sustainable energy, and I think one of the down sides of crypto is that computationally it’s quite energy intensive. There had to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create slightly incremental Bitcoin, at this point.”

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CryptoMining.Farm Scam: 30 Victims Lost $1.34 Million

Thirty people have filed complaints to Thailand’s Technology Crime Suppression Division stating that they were victims of crypto mining scam, they allegedly lost 42 million baht ($1.34 million). The police thinks that the amount of victims can be bigger.

According to the victims’ words, the leaders of the scam convinced them to invest money into CryptoMining.Farm, a blockchain-mining website. One anonymous victim said to the Bangkok Post that one of the leaders promised investor an impossibly high return – 70% a year.

The victims signed contracts when they entered the website, the documents said that a customer may withdraw money at any time he/she wanted without any additional condition. However, the situation has changed since August. The victim stated that:

“From August the owner began imposing conditions for withdrawing the money. Then at the start of this month, the site announced it would start paying back investors in 84 installments which would take over seven years to complete. The payments were supposed to be made in foreign currencies [which] is not permitted by Thai laws.”

After a preliminary investigation, the police is sure that not 30, but 140 people became victims of the scam. Moreover, it can be related to a big scandal which happened in August 2018, when a popular Thai actor and his siblings stole about 797 million baht ($25.5 million).

According to the Bangkok Post, the company has two official offices in Bangkok and Chiang Mai, which may make the victims think that the company’s operations are legal.

Thailand treats digital money with caution and tries to regulate it. The Thai Ministry of Finance even issued a document last year where all the country’s cryptocurrency activities were regulated, including the taxation of participants of crypto market.

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Romance Scams: Total Loss Accounts For More Than $143 Million

The Federal Trade Commission (FTC) has recently published a report showing that romance scams are relentlessly gathering momentum. The number of romance scams has increased in 2.5 times, from 8,500 in 2015 to 21,368 last year, overtaking the number of any other type of consumer fraud.

Romance scams data

The data provided below shows that in 2015 the number of reports did not exceed 10,000, and the total loss was estimated at about $33 million. The situation has been worsening since 2016, when the reported loss accounted for $75 million, two times bigger than in 2015. However, the year of 2018 broke all the records when the total loss comprised over $143 million.   

Source: www.ftc.gov

How do scammers lure people?

Romance scammers usually create attractive and convincing personas on the dating sites and apps or social media, like Facebook, for example. They frequently use fake photos and names, but there were cases of assuming the identities of real people. The scammers lure people with their sob stories to convince victims to send them large amounts of money.

Once the romance scammers have people by the heartstrings, they say they need money for medical treatment or for any other quite sad reason. The fraudsters usually explain to victims that they are in the military and stationed abroad, thus, they cannot meet. The report says that most affected are people from 40 to 69, the rate of their losing money to romance scams is higher more than twice in compare to the rate of people in their 20s.

Tips how to not get engaged in a romance scam

  1. Do not send money or anything else to the sweetheart you have never met in person before.
  2. Tell your close friends about your sweetheart. People can become blinded when they are in love, thus, pay attention if your friends or family are concerned.
  3. Do not rush, just take it slowly. Try to ask questions, use a reverse-image search of the profile picture. If something does not match, it is a scam.

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Elon Musk and the Half-Blood Prince of Twitter in the Opinion of Its CEO

Elon Musk, probably the most famous technological entrepreneur, is also quite a loud personality on social media, Twitter, to be specific. Most of his tweets either caused scandals, or lawsuits, and the vast majority of them created a massive hype in the community.

However, Musk’s eccentric statements were given quite a positive validation just a couple of days ago by another influential figure, the one who actually made it possible for such tweets to be written and posted.

The CEO of Twitter, Jack Dorsey, gave an interview to Recode where he talked with a correspondent Kara Swisher on Twitter (how surprising!) for 90 minutes, discussing the platform, its main focus, the safety of Twitter users, info verification and many other topics.

Among all the points discussed during an interview, one specific question caught the attention of the community. When Kara asked Jack whom he considered the most influential personality on the platform, his answer was pretty unexpected – Elon Musk.

This seems like a rather bold statement, given the fact that the influence of Musk’s tweets was not always quite positive. Just a quick reminder:

When Elon Musk tweeted about loving anime and Bitcoins, it almost shut Twitter down, because the users were going crazy because of these couple of words, just casually thrown out there.

When he, out of the blue, tweeted about making Tesla a private company, not only did it outrage the members of the Board of Directors, it also attracted the attention of the Securities and Exchange Commission.

Not to mention all those times, when Musk’s account was supposedly hacked and used to promote fake crypto giveaways and scams resulting in huge money losses of his subscribers, which is quite an expected thing considering the size of his audience.

Thus, such a high praise from Jack Dorsey was perceived badly by the audience.

Elon Musk himself though was pretty delighted. He responded: Thanks Jack. Twitter rocks.”

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The Story About True “Iron Man” Who Conquered Space

Genius, billionaire, philanthropist, engineer, inventor and investor, a man whose name has been very popular in recent years. The man drove by a dream, a dreamer who wants to conquer the space and bring technology to an absolutely new unprecedented level. As you may have guessed, this is Elon Reeve Musk. In this article, we will talk about how the man who was born in the poor city of Pretoria which is in the Republic of South Africa, has risen on the top of technological progress.

1. Early years

As we said above, everything began in South Africa, in the city of Pretoria. The father of the future genius was a successful businessman and was able to give his 10-year-old son a computer Commodore VIC-20, on which little Elon learned to program. The first deal in Musk`s life happened when he was 12 years old: he sold his first video game “Blast star” for 500 dollars. This game was a rethinking of the well-known game “Space in Waders”. The teenager invested the raised money in shares of a pharmaceutical company, the development of which was closely followed by his father. When he was 17 years old, Musk sold these shares to leave his hometown for studying in Canada. It should be noted that Elon’s parents were against such a decision, but the young Musk insisted on his own and left his homeland and flew to North America.

2. The first companies and PayPal

In Canada, Musk settled at relatives,  soon he applied to Stanford, but never finished it. In 1996, Elon together with his brother created his own company Zip2, which developed software for news companies. After just three years, in 1999, Compaq bought Zip2 for $308 million. Musk’s share of this deal was $22 million. A few months later, Elon became one of the founders of the company X.com, which after the merger with the company Confinity became the world-famous payment system PayPal. It should be noted that Elon himself was against the name of PayPal. This service began to actively develop, mainly it was used to buy various goods at auctions, including the most famous Ebay.com. In October 2002, the company PayPal was bought by eBay, the amount of the deal amounted to $1.5 billion, a record for those times. At the time of the sale, Elon Musk owned 11.7% of the company’s shares, which allowed him to receive $165 million.

3. Road to the stars “SpaceX”

In 2002, Musk founded the company SpaceX, which is a private developer of a series of launch vehicles and a commercial operator of space systems. It should be noted that Musk personally invested in SpaceX $100 million, which he had earned from the sale of his previous companies. Elon Musk set the goal: “to reduce the cost of space flight by 10 times.” It seemed unreal, but it took 6 years for Musk and his engineering team to realize it. In 2008, Nasa signed a contract with SpaceX for $1.6 billion. It is very important to note that Elon Musk not only managed this company, he also dealt with engineering and visual activities. As his partners say, Musk independently studied rocket science and continues his own self-study to this day. Almost all the brilliant ideas implemented in SpaceX came to Elona Musk’s mind.

SpaceX is the only company in the world that uses the first stages of launch vehicles on a reusable basis. The ultimate Musk`s goal is the conquest of the space: a colony on Mars and other space bodies of the Solar System. The first flight to the Red Planet is scheduled for 2024. A huge BFR (big falcon rocket) spacecraft is currently in a process of development.

4. Electrification of the automotive industry “Tesla”

At the same time that SpaceX was developing, Musk started the not less ambitious project – in 2003 Musk founded Tesla Motors, the company that specializes in the production of electric cars. This was a very difficult project since Musk and his team were pioneers in this market. In 2006, the brainchild of Elon launched his first car Tesla Roadster, which is a two-seater supercar. The production of this model was very limited since all the cars were assembled by hand.

Now Tesla company is one of the largest car manufacturers in the United States. The company’s lineup now includes Model S (business class sedan), Model X (roomy crossover), Model 3 (budget sedan), Tesla Semi (truck, mass production will begin at the end of 2019), Tesla Roadster 2 (supercar, mass production will begin in 2020). Also in the project are the Model Y (budget crossover) and Tesla pickup.

Source: https://www.wikipedia.org/

In 2018, the company had problems that were related to the scaling of production capacity of Model 3, but 3 and 4 quarters of 2018 were profitable for the company and Musk promised investors that the worst was over and that in the future the company would only expect growth and prosperity.

5.  Transition to the energy of the sun “Solar City”

In July 2006, Elon Musk`s cousins (with his participation) founded the company Solar City, which specializes in installing solar panels on the roofs of both private houses and public premises. Just a year after the founding of this company, it became the leader in its field of activity in California. Subsequently, Solar City was acquired by Tesla.

6. Underground tunnels “Boring company”

Another problem that Elon Musk decided to fight with was traffic jams. To solve this problem, Elon proposed to build a network of underground tunnels in which cars would move on special platforms, at a speed of 200 km/h. Musk with the company’s engineers are working to improve the drilling rigs in order to cut down the cost of building tunnels by ten times. The most advanced modern boring machines move with a speed that is 7 times less than the speed of movement of an ordinary snail. As Musk joked, the main goal of the company is to outrun the snail. In December 2018, the Boring Company held a presentation of its first test tunnel, which cost the company $10 million, which is several times less than the average market price for a contractor.

7. Conclusion

Elon Musk is very versatile, he has a number of innovative, but less well-known projects:

  • StarLink is a satellite Internet project with coverage of 100% of the globe. The idea is to launch about 12,000 satellites into low-Earth orbit, which will have to give the Internet anywhere in the world. This is a project of SpaceX, which is now actively preparing for its implementation.
  • Hyperloop – a project of a supersonic train. For the first time, this idea was voiced by Elon Musk in 2012, but he said that he would not personally deal with its implementation. Already after a short period of time, there were created two companies which actively began to implement the project.
  • Neuralink is a neurocomputer interface project. To fully describe this idea of Elon Musk, it is needed to write a separate rather long article. But in short words, Neuralink will help connect the human brain directly to the Internet and to the gadgets that surround us. Today it sounds like a fantastic movie script, but some 10 years ago, self-driving electric cars or manned first stages of launch vehicles that land and can fly again, were also unreal. But as we see, all the goals that Elon Musk sets for himself, sooner or later become a reality.

So we can only wish him good luck and watch him changing our world beyond recognition.

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The Monetary Authority of Singapore Warns Public About Scammers Who Are Trying To Sell Non-Existent National Cryptocurrency

While Iran is finding ways to adopt state-backed cryptocurrency, Singapore is fighting with rumours about launching its own cryptocurrency. The Monetary Authority of Singapore (MAS) announced that the state would not release any cryptocurrency.

The regulator posted a statement on the website:

“The MAS warns members of the public not to be misled by fraudulent websites that solicit investments in cryptocurrencies using fabricated information attributed to the Singapore Government.”

According to the MAS, scammers try to sell Singaporean cryptocurrency across the web. They create fake articles and news, mentioning respected news outlets, and spread that Singapore is launching a national cryptocurrency. Moreover, they state that the government chose a specific company to trade that cryptocurrency.

People, who are not engaged in cryptocurrency world, and who are not aware about latest news in it, should be extremely careful, as they often become victims of such crimes.

We remind you:

Scammers Try to Impersonate Major YouTube Influencers

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