If you’re going to run a crypto scam, it makes sense to invoke Elon Musk’s name. He is the wealthiest man in the world, after all, recently surpassing a net worth of $500 billion according to Forbes. But it’s still shocking to read the stories of those who’ve been scammed by people posing as the Tesla CEO.
Gizmodo filed a Freedom of Information Act (FOIA) request with the FTC for complaints from people who say they were tricked by scammers posing as Musk or who used online ads with the billionaire’s likeness. Gizmodo has filed such FOIA requests with the FTC before, and it’s instructive to learn what new tricks and tools scammers are using to lure their victims.
Some scammers appear to convince victims they’re actually Elon Musk, even bringing in supporting characters like Elon’s mother, Maye Musk, to vouch for a given “investment.” Other times, scammers will use AI-generated photos or videos to make it appear Elon is promoting a given cryptocurrency or online platform where someone can supposedly get rich.
Some of the stories are heartbreaking, like the woman in Florida who filed a complaint with the FTC because her elderly husband has cancer and isn’t thinking clearly as he engages with a person he’s convinced is the real Elon. She writes that her husband, who’s in his 70s, is “heavily medicated and does not believe he is being scammed.” He lost at least $10,000.
Scammers frequently set up YouTube livestreams during major SpaceX or Tesla events, making them appear as official as possible, but imploring people to send cryptocurrency that will be “matched” by Musk or his companies. A Florida man in his 60s wrote to the FTC about getting scammed out of $225,000 that way, sending crypto to Coinbase earlier this year.
The scams are all from the past year, meaning that there are sometimes cameos by President Donald Trump. Like the complaint from Michigan, where a person in their 70s who lost $10,000 was convinced it had to be Musk because, “His profile picture was of him on Airforce 1 [sic] with Trump. He presented detailed information that Musk would know.”
Another man in Florida wrote about losing $41,000 after getting lured into a scam advertised with Elon Musk’s face on Facebook. The complaint explains how he slowly drained his retirement account of $32,000, and was “devastated” to realize he fell for a scam.
“I still am really bothered by it as someone who has taught personal finance and managed my home finances for decades, I cannot believe I was taken advantage of like this,” the man wrote to the FTC. “I lost the only money I had left and am hoping to recapture some of it back working with the federal government.”
Curiously, some people who realize they’ve been scammed still think they’re talking to the real Elon Musk. Like the Washington woman in her 70s who said she lost over $63,000. The scammers convinced her that she was actually in a romantic relationship with Musk and her complaint to the FTC is a desperate plea to get some of the money back for dental implant surgery. It’s clear from the complaint that she knows she was scammed but believed the scammer was Elon Musk, not some impersonator.
“I AM BEGGING YOU, PRETTY PLEASE, TO HELP ME RECOVER THE MONEY THAT HE SCAMMED ME,” the elderly woman wrote in all-caps. “HE IS A BILLIONAIRE, SO HE CAN AFFORD TO GIVE IT BACK TO ME.”
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