Five Bitcoin worth $243,153 were sent from a particular BTC address to a confirmed scam address which is associated with the totally fake website of Elon Musk. You have most likely seen many fraudulent tweets or watched several scam video streams generally related to a fake VIP account. For instance, they ask to invest one BTC and offer two in return, and those usually victimize no one. But it seems someone just caught up and lost $243K in the greed of making more and easy money.

A fake Bitcoin address associated with the fraudulent website of Elon Musk just received 5 BTC from another address on 1st March. That fake website was promising to return a double of any Bitcoin amount between 0.1 to 10. Another fact, which is still ambiguous in this regard, is that either the sender is really a victim or the scammer’s partner, who is transferring their black money between Bitcoin wallets. 

This incident is not the first; instead, the scams associated with Musk’s fake identity have crossed $2 million within two months. A logical fact that must be understood entirely in this situation is that “the CEO of Tesla does not work to increase your bank balance.” 

Skepticism About Digital Assets

People fall prey to such scams, especially in the world of crypto because, nothing seems like the ultimate truth. Most of the organizations offer a free lunch as a demo to win the trust in the beginning and eventually prove profitable. Apparently, it sounds too good, at least for some time. As far as virtual assets are concerned, there are many kinds of risks that you have to face like, protocols can be hacked, liquidity pools can be disturbed, and in short, all the rugs can be pulled. At the end of the day, It’s volatile money from the internet. How can you explain the reality of becoming rich by getting two BTC in return for one? In the case of Musk, there is still a logical fact that he has become the world’s richest man, not because he is distributing free Bitcoin in public.