Elon Musk Bitcoin Giveaway Scam Costs This Man BTC Worth $600K

Elon Musk Bitcoin Giveaway Scam Costs This Man BTC Worth $600K 1
Elon Musk Bitcoin Giveaway Scam Costs This Man BTC Worth $600K 2

Elon Musk Bitcoin Giveaway Scam Costs This Man BTC Worth $600K 3

Elon Musk Bitcoin Giveaway Scam Costs This Man BTC Worth $600K 4

The German told how he fell in love with Elon Musk’s gift scam. He lost 10 bitcoins in a scam worth nearly $600,000 at current prices. I just flipped a switch for my family, my early retirement and all the vacations still to come with my kids, he revealed.

Elon Musk’s fake bitcoin gifts fool investors even more

As the price of bitcoin continues to spike, Tesla has invested $1.5 billion in the crypto currency and Elon Musk has issued several tweets about the crypto currency, the number of bitcoin gift scams using the Tesla chief executive’s name has increased. The BBC reported this week that Sebastian, a German man from Cologne, lost 10 bitcoins to Elon Musk’s advertising scam. At the current price of $59,115, based on data from markets.Bitcoin.com, his bitcoins are worth about $600,000.

One night, after his wife had gone to bed, Sebastian received a notification on Twitter that Musk had tweeted Dojo 4 Dodge. It was the 21st. February. While wondering what it meant, he noticed comments on Twitter about the bitcoin donation. The 42-year-old man followed a link on Twitter to what he described as a professional-looking website, which he thought was engaged in a BTC contest. The comment and link were posted on Elon Musk’s fake Twitter account, but Sebastian didn’t notice it at the time.

It seems Musk’s Tesla team is handing out BTC and inviting people to send amounts ranging from 0.1 to 20 bitcoins to them. There was also a countdown to the end of the promotion.

Sebastian checked the verification logo next to Elon Musk’s name and then tried to decide whether to send five or 10 bitcoins, reports the BBC. He said in a press release:

Take the maximum. I thought it was pretty realistic, so I sent 10 bitcoins.

For the next 20 minutes, as the timer expired, Sebastian refreshed his screen every 30 seconds, anxiously waiting to receive 20 bitcoins from the Tesla team.

He then saw another cryptic tweet that Musk had posted and was certain that the gifts were real, the news portal reported. Nevertheless, since the timer on the cheat page ends at zero : Then I realized it was a big lie, he said, noting:

I threw my head on the cushions of the sofa and my heart was beating so fast. I thought I had thrown away the game for my family, my early retirement fund and the next vacation with my kids.

I went upstairs and sat on the edge of the bed to tell my wife. I woke her up and told her I had made a big mistake, a very big mistake, he admitted.

Sebastian stayed up for hours that night emailing Elon Musk’s fake scam website and his Twitter account to try and get all or part of his BTC back. Yet he eventually admitted that his 10 bitcoins were gone for good.

According to researchers, scammers will make record amounts of money by 2021. The donation scam has already raised more than $18 million in the first three months of this year, up from $16 million for all of 2020. Bitcoin.com News previously reported that Elon Musk’s gift scam was worth millions of dollars. The scammers are also using another of Musk’s companies, Spacex, and other well-known names to promote their BTC donation scam, including Microsoft co-founder Bill Gates and Amazon CEO Jeff Bezos.

Sebastian warns others against cheating like his, insisting that he’s not usually the biggest jerk in the world. He also stated: I studied and have a good job in marketing in the computer industry. I live with my wife and two children and we have a nice house with a garden. Nevertheless, he concluded:

I was greedy that night and it blinded me.

Meanwhile, the real Elon Musk continues to tweet about bitcoin and Dochecoin. The CEO of Spacex recently changed his title at Tesla from CEO to tech, and the CFO is now master of the currency. Similarly, he almost sold the song about unreadable tokens (NFT) as NFT.

How about bitcoin gift scams? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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