Cryptocurrency investment scams are growing quickly over the U . s . States. Individuals have lost over 80 million dollars in online fraud, including Elon Musk’s scam claims and celebrity impersonators.

Lately, Elon Musk impersonators are utilizing his brand to complete crypto scams with other people. It’s been reported that his impersonators have duped over $two million price of crypto from investors previously six several weeks underneath the new Elon Musk Club Scam. The fraudster promises to provide a high return or double your Cryptocurrency inside a shorter time. Continue studying to understand much more about the club scam along with other details.

What’s Elon Musk Crypto Scam?

Based on Ftc, the Elon Musk Scam may be the new crypto scam where Elon’s impersonators are duping innocent investors within the U . s . States using his logo and name. It’s been believed that his impersonators have conned over $two million previously six several weeks in the Elon Musk Crypto Club Scam investors.

The scammers ensure the investors to provide huge returns from your investment or claim that they can double their Cryptocurrency inside a shorter duration. Earlier, scammers did scams with social networking users by posing themselves to become Elon Musk.

How’s Elon Musk Club Scam Committed?

Tesla’s Chief executive officer Elon Musk is definitely an active investor of Crypto, and the opinions for that Crypto play a substantial role in influencing the marketplace cost. So, Elon’s impersonators are misusing his brand to trick people in to the crypto club scams.

The scam is committed by utilizing giveaway scams where fraudsters pose as celebrities along with other famous figures in the Crypto world and fallaciously claim that they can multiply the Crypto investment immediately. But, they flee away after using the money in the investors.

Within the last six several weeks, investors reported losing over $80 million in Elon Musk Club Scam. It’s 12 occasions the amount of reports. Earlier, some investors have forfeit around 9000 GBP within the BTC scam that sold on Elon’s connection to the cash.

There are lots of such frauds and scams as reported by investors worldwide.

How you can Report the Scam?

Based on Ftc, victims from the Elon Musk Scam must immediately report it towards the greater government bodies of Tesla and SpaceX. They should also report the scam towards the Ftc to prevent further scams.

The state website from the Ftc includes a separate page where investors can report the Elon Musk Club Scam by discussing every detail. It can help the government bodies to research the scam which help prevent further scams. Victims need to share their details, the kind of service or product involved, and knowledge concerning the scammers and transactions.


Crypto-related scams are more and more targeting worldwide investors. But, using the proper understanding, it’s possible to easily don’t get a target of Crypto scams online. Besides, it is important to report the fraud timely to obtain the lost money-back.

Elon Musk Club Scam continues to be as reported by many investors worldwide, and Federal trade commission continues to be updating the investors about this and advocating these to avoid such giveaway scams. You have to discover the tips about how to safeguard yourself from your online scam.