Someone sent $ 243,000 in Bitcoin to an ‘Elon Musk’ scam address – Decrypt


  • Elon Musk does not give away free Bitcoin.
  • But some people still give fake Elon Musk free Bitcoin.

You’ve probably seen the tricky tweets and video streams, usually linked to one fake celebrities account. “BTC Giveaway! Send 1 BTC to verify and get 2 BTC in return! ”

No one actually falls for them, right? Well, it looks like someone just did … to $ 243,000 dollars Bitcoin.

On March 1, a Bitcoin address sent 5 BTC to a verified scam address. Addresses, 1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE, is associated with a fake Elon Musk website, which promises to return twice as much Bitcoin as it gets between 0.1 and 10 BTC.

While it’s unclear if the sender is a victim of the scammer or is dealing with them (such as the scammer who transfers money between wallets), it’s a mild reminder that Tesla’s CEO is not here to make you rich.

One reason people fall for such scams (besides good old-fashioned gullibility) is that two truisms do not always hold in crypto. Sometimes there is such as a free lunch. Take air drops. In September 2020, for example, decentralized exchange Uniswap airdropped 400 UNI tokens (then worth $ 1200) to its users. Anyone who clings to the control token would now have $ 10,000.

When Showtime hinted at an upcoming “NFT social network” its own airdrop by asking Ethereum addresses on Twitter, it pulled in legitimate blockchain authorities such as CoinShares Chief Strategy Officer Meltem Demirors and Week in Ethereum publisher Evan Van Ness. (The difference is that no one was asked to send money.)

And if it looks too good to be true … it can still be true, at least for a little while. How else do you explain being able to buy Bitcoin for $ 8,000 a year ago and withdraw money now with a profit of $ 40,000?

Minutes are then hacked again, liquidity pools are drained and carpets are laid. This is magic internet money, where scams and savings, fraud and financial freedom, live side by side.

But Elon Musk lives in a mansion. And it’s not because he gives you free Bitcoin.