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Scammers Are Using Elon Musk's Name In Order To Sell Fake Online Cryptocurrency Through YouTube

A group of scammers has been reportedly attempting to sell individuals fake cryptocurrency, attributing it to Elon Musk, online, as reported by Tenable.

Cryptocurrency has, very much like it's own value, been held with an ebbing and flowing interest across the internet. While the commentary around Bitcoin and its importance did spike in the early 2010's, only to fall back down once prices plummeted, the craze is back with a vengeance. Part of this can be attributed to just how much our lives have become dependent upon online exchanges, down to socialization, shopping, and bank transfers as well. Naturally, it follows that the very concept of currency would find an online footing as well.

A recent example of cryptocurrency success can be found in the Dogecoin. Named humorously after a meme, the joke's value ended up skyrocketing after SpaceX CEO Elon Musk made a tweet about it, in a manner that complemented Dogecoin's internet origins. It's recent rise in value is what has people speculating that perhaps cryptocurrency will very much be coming to stay, either now or in the near future. Accordingly, many individuals have also started investing in it, considering cryptocurrency stock as more mainstream and thus "safer" to bet on.


However, as with any form of monetary success online, scams soon follow. These particular scams decided to even title their fake currency "SpaceX coins", perhaps to give more credibility to the whole operation. Such a strategy apparently has worked wonders, since scammers have stolen nearly USD $1 million from YouTube users by promoting the project there. All the money was acquired by the scammers in the form of Bitcoin, Dogecoin, and Ethereum. Scams are becoming more and more commonplace online, forcing individuals to be more careful with their security and planning.

Scams are becoming more and more commonplace each day. Whether it be mobile applications, that siphon your personal data, or more complicated attempts at phishing attacks, the online space is not necessarily a safe one as well. With attacks like this, all one can hope is to pay closer attention and question a claim's legitimacy. Even with this, however, at one point, things may develop enough to grant online scamming even more nuance, and the ability to decipher real from fake will naturally get more difficult with the coming times. All we can do is keep our guard up, and hope to keep recognizing these attempts at scamming.



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