Impersonators of Tesla CEO Elon Musk have stolen at least $2 million in cryptocurrency scams over the past six months, according to federal regulators.
The thefts are part of so-called giveaway scams in which grifters pose as celebrities or well-known figures in the crypto world and promise massive returns on investments suckered out of victims, the feds said. But instead, the scammers pocket the untraceable cryptocurrencies.
The data on Musk impersonators comes from a broader analysis done by the Federal Trade Commission, which says crypto scams have surged since October, hitting their highest level on record in the first quarter of 2021.
The FTC’s report, which was published Monday, found that nearly 7,000 people have reported losing over $80 million in total to cryptocurrency scams since October. The true figures could be even higher since the data only reflects reported scams.
The typical victim reported a loss of $1,900, the FTC said, and young…