this post was submitted on 29 Oct 2024
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Gizmodo filed a Freedom of Information Act (FOIA) request with the FTC to get complaints sent to the federal agency about crypto scams that pretend to be affiliated with Musk. We obtained 247 complaints, all filed between Feb. and Oct. of this year, and they’re filled with stories of people who believed they were watching ads for authentic crypto investments sanctioned by Musk on social media.

The ads sometimes featured the names of Musk’s various companies, like SpaceX, Tesla, and X, while other times they utilized Musk’s association with neo-fascist presidential candidate Donald Trump.

...

Some people in the complaints believed they were talking directly with Musk, a sadly common story that has popped up in news reports before. But they weren’t talking with Musk, of course. They were communicating with scammers engaging in what’s called pig butchering—the name for a type of fraud popularized in the mid-2010s where scammers extract as much money as possible through flattery and promises of tremendous profits if the victim just “invests” where they’re told.

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[–] ThePowerOfGeek@lemmy.world 241 points 6 days ago (2 children)
[–] Entertainmeonly@lemmy.blahaj.zone 65 points 5 days ago (1 children)

Who taught this Tardigrade to play the Cello? Its all wrong. He's not going to get any notes out of it playing it under the bridge.

[–] whostosay@lemmy.world 40 points 5 days ago

He's doing the best he can, show a little respect.

[–] TriflingToad@lemmy.world 10 points 5 days ago (1 children)

I want a water bear as a pet so bad but the fact that they're microscopic might be an issue

[–] RecluseRamble@lemmy.dbzer0.com 6 points 5 days ago (1 children)

the fact that they're microscopic might be an issue

Why? All that means is you may already have one without knowing it.

[–] TriflingToad@lemmy.world 9 points 5 days ago

YOU'RE SO RIGHT OH MY GOD

[–] MushuChupacabra@lemmy.world 182 points 6 days ago (2 children)

There's a simple explanation for this. Elon Musk fans are fucking idiots.

[–] finitebanjo@lemmy.world 120 points 6 days ago* (last edited 6 days ago) (1 children)

They might also just be the target demographic for pig butchering.

  • Middle Class
  • Over 40
  • Conservative Male (lonely)
  • Greedy / Self-serving

But yeah there is definitely correlation with low cognitive ability.

[–] echodot@feddit.uk 28 points 6 days ago (3 children)

You also have to be the sort of person that genuinely believes you can get something for nothing. You have to have a relatively low IQ for that to be the case.

You also have to have a relatively low IQ to continue to listen to anything Musk says, so the group are Self-Selecting.

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[–] kokesh@lemmy.world 11 points 6 days ago

Like their master

[–] PrincessLeiasCat@sh.itjust.works 112 points 6 days ago

while other times they utilized Musk’s association with neo-fascist presidential candidate Donald Trump.

I love that they called him what he is. I wish more in media would.

[–] Carighan@lemmy.world 34 points 5 days ago (1 children)

I mean it makes sense to target these people. If you're stupid enough to believe the shit Musk or Trump spout, you're also stupid enough to not see these very obvious scams.

[–] braxy29@lemmy.world 5 points 5 days ago

there was a story here recently about a lot of scamming happening on truth social. so yeah.

[–] prof_wafflez@lemmy.world 22 points 5 days ago (3 children)

Maybe a hot take, but those currently into crypto and Musk aren't that bright.

[–] Bazoogle@lemmy.world 7 points 5 days ago (1 children)

That is the coldest take I've ever heard.

[–] prof_wafflez@lemmy.world 6 points 5 days ago (1 children)

Yep - It was found in the frozen food section

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[–] TrueStoryBob@lemmy.world 19 points 5 days ago (2 children)

Sure, the scams like pig butchering look dumb from the outside, but never think shit like this can't happen to you. There's TONs of ways scammers can trick you, but usually they'll seek out vulnerable people. Sure the gullible are vulnerable, but just because you're not vulnerable right now, doesn't mean you won't be at some point in the future. Desperation can make scholars into fools.

[–] Psythik@lemmy.world 4 points 5 days ago* (last edited 5 days ago)

Can agree. I used to think I was savvy enough to avoid getting scammed, until I followed a link that a person who was pretending to be a mechanic gave me to purchase parts for my car. I ended up spending $1300 on parts that didn't exist.

Long story short, I eventually got my money back after arguing with my bank's fraud department for several months. I wish I could afford a lawyer so I could sue this guy for pain and suffering + the thousands I spent in Uber/Lyft/Waymo getting to work while I didn't have a car.

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[–] todd_bonzalez@lemm.ee 20 points 5 days ago

When these scams first started featuring Musk, it was clear that he was a common lead because of his wealth. Pretty much just "Get rich quick, and be rich like [insert rich guy here]". I've seen scams in the past with Buffet, Gates, or Bezos on it before, because the kind of people who fall for a get-rich-quick scam are the kinds of people who idolize wealth.

But now it seems that Musk fans are a uniquely exploitable group. They are easily fooled by wild claims, and quickly subscribe to magical thinking. At this point, they're just low-hanging fruit.

[–] fubarx@lemmy.ml 26 points 5 days ago (1 children)

This is pretty sad.

I have a number of elderly relatives. The one thing I keep telling them is if they ever get approached, to contact their kids, or check with another family member before responding. So far, there haven't been any problems.

But I heard an in-law's parents in a different state lost a big chunk of money to one of these scams and may now lose their home.

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[–] finitebanjo@lemmy.world 50 points 6 days ago

Tech bros are tech broing?!

[–] seaQueue@lemmy.world 31 points 6 days ago (4 children)

If only they had a safe place to put their money that was protected by law and insured against losses.

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[–] Spitzspot@lemmings.world 30 points 6 days ago (1 children)

Schadenfreude popcorn 🍿 time.

[–] UnderpantsWeevil@lemmy.world 13 points 6 days ago* (last edited 6 days ago) (2 children)

A lot of the people falling for these scams are straight up mentally ill or disabled.

It's funny to think of some blowhard yacht guy getting fleeced. Less funny to see an adult with Down's Syndrome or Schizophrenia or Dementia or a child who got hold of a parent's credit card and sucked in by some Mr. Beast tier grift get played.

[–] Spitzspot@lemmings.world 8 points 6 days ago (2 children)
[–] thesohoriots@lemmy.world 8 points 6 days ago

The article said nothing about intellectual disability, but it did suggest some older people contextually from their complaints. Here’s an actual citation from one of the complaints that I think sums it up perfectly:

Now, i’m an intelligent [person], at least I consider myself that to be. I am a huge fan of elon musk and tesla. I only bit into this because it did sound too good to be true.

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[–] Rin@lemm.ee 13 points 5 days ago (1 children)
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[–] jaschen@lemm.ee 25 points 6 days ago (2 children)

Can we take NASA contract away from SpaceX? Let's bring it back in house. Space should not be for profit .

[–] JasonDJ@lemmy.zip 13 points 5 days ago (1 children)

Just want to share that NASA has one of the highest ROIs of any government agency.

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[–] zbyte64@awful.systems 9 points 5 days ago (1 children)

But then how will billionaires get to say they're literally thinking of the big picture because they got to go on a brief space joy ride?

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[–] partial_accumen@lemmy.world 25 points 6 days ago (2 children)

I saw one of these and it took me a second to realize it was a scam. I'm a spaceflight geek and as much as a tool as Musk is, there's heavy overlap in spaceflight and SpaceX.

On Youtube there was a purported "live launch update" livestream. I was confused because I knew there were no launches scheduled that day of any kind much less SpaceX. What I saw was Musk on a stage outdoors apparently talking about a new SpaceX crypto product and the voice, which sounded exactly like Musk's talked about giving away free crypto the only thing you had to do was buy it, then share you wallet info and Musk would double it.

Besides this smelling very suspect, I realized that there were never close shots when musk was talking, so you couldn't see the lips match the words being said audibly and I knew it was a scam.

I can absolutely see how the greedy would get scammed by this.

[–] cygnus@lemmy.ca 10 points 5 days ago (1 children)

I can absolutely see how the greedy would get scammed by this.

Really? The only way that could sound more like a scam is if there were a chyron at the bottom spelling out THIS IS A SCAM.

[–] partial_accumen@lemmy.world 15 points 5 days ago (1 children)

It sounds like a scam because I'm distilling all the things that told me it was a scam. I'm glad you can take what I'm tell you is a scam and say "yes thats a scam". Congrats?

Musk also does stupid stuff that loses money. He's (likely illegally) giving away money to buy votes in some states. Musk is also a known cryptobro. The idea that Musk would be giving away crypto to try to build influence or attention isn't far fetched.

[–] fl42v@lemmy.ml 6 points 5 days ago (1 children)

I mean, "give access" and "double your bitcoin" are somewhat textbook phrases for scams...

Although, I def. see how one can miss it at first. I remember one bank scam call where the thing that ultimately clued me in was a rather unprofessional response along the lines of "don't call crying back to us" when I've said I'm a bit busy to go check the card or whatever they've asked to, while what should've done this in the 1st place was another textbooky "have u transfered any funds to Joe Shmoe". Looking back, would've been funy AF to pull the Karen on them 🥲

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[–] ryantown@lemmy.world 10 points 6 days ago

I saw one of these too on YouTube – it easily popped up early on my home page.

I'd consider myself a tech savvy person and even then, this took a minute to spot the scam. I can totally see someone falling for it.

[–] Korrok@lemmy.blahaj.zone 10 points 5 days ago

Who would think that Musk fans are gullible people susceptible to scams?

[–] kameecoding@lemmy.world 21 points 6 days ago

Idiots who fall for Elon Musks genius persona and think they are smart also fall for crypto scams? Shocking I tell you, shocking

[–] huquad@lemmy.ml 17 points 5 days ago (1 children)

I'm so glad they're losing it to these scams instead of to leon.

[–] TheObviousSolution@lemm.ee 5 points 5 days ago

The people that end up cashing in from those scams are the same people that end up supporting Trump & Musk.

[–] cmrn@lemmy.world 17 points 5 days ago

I feel like they don’t even need to be crypto schemes affiliated with Musk for that Venn diagram to work

[–] S13Ni@lemmy.studio 16 points 6 days ago (5 children)

Ngl I always hated crypto but this is like best argument for crypto. Wtf I'm even doing at my job, I should be doing something actually important like scramming Elon Musk fans.

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[–] Snapz@lemmy.world 5 points 5 days ago

The registered republican voter records are available for purchase - that list is such a gold mine of warm, qualified leads of the dumbest people. Cross reference above a certain threshold for affluent zip codes and split by age and you're now holding the keys to hate-filled grandma's pension.

Some people in the complaints believed they were talking directly with Musk, a sadly common story that has popped up in news reports before.

I remember when I thought I was talking directly to a celebrity online… when I was 13. It didn’t take long to realize how stupid that idea was. To be a grown adult and still think there’s a chance a celebrity is sending messages to random people is mind-boggling.

I cringe at the memories now, but at least I can take comfort in having learned about catfishing long before I had money to lose from it.

[–] Matthew_Gasoline@lemmy.world 5 points 5 days ago

"A fool and their money will soon be parted."

[–] NotMyOldRedditName@lemmy.world 4 points 5 days ago* (last edited 5 days ago) (1 children)

There are a lot of scams out there pretending to be Musk. If you want to watch a SpaceX launch, there's probably at least 1 scam youtube stream out there that looks legit with thousands of viewers and then turns into a scam before the launch.

After all of the send me crypto and i'll send double back.... I find it hilarious that he's now telling people to do things and he'll pay them... and it'll be even funnier when they realize they don't get it and were scammed into giving him their info for no money.

[–] echodot@feddit.uk 4 points 5 days ago

If it's on YouTube then it's a scam, spaceX don't have a YouTube channel, I assume for some stupid petty musk reason.

[–] smokebuddy@lemmy.today 7 points 6 days ago* (last edited 6 days ago) (1 children)

This has been news in Canada for about a year, story after story about people getting sucked in and losing tens to hundreds of thousands of dollars. When it's not Musk it's Justin Trudeau, same M.O.

You'd think if these people read the news outlets they share their stories with that they would have seen one of the articles already because they're so common. But then again people still take Sunwing package vacations then complain to the news when it's subpar so idk.

Edit to add I blame big tech more than the scam victims, they have no protections in place and are profiting off the scammers immorally as well. They should have to manually review these things or at least be responsive to user reports and they're doing neither. I actually know someone who got banned from Meta products for reporting too many scam ads.

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