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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[–] [email protected] 18 points 17 hours 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.

[–] [email protected] 3 points 16 hours ago* (last edited 16 hours 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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[–] [email protected] 22 points 18 hours ago (3 children)

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

[–] [email protected] 7 points 17 hours ago (1 children)

That is the coldest take I've ever heard.

[–] [email protected] 6 points 16 hours ago (1 children)

Yep - It was found in the frozen food section

[–] [email protected] 3 points 15 hours ago

Tossed it in the microwave and here we are

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[–] [email protected] 34 points 20 hours 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.

[–] [email protected] 5 points 18 hours ago

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

[–] [email protected] 20 points 20 hours 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.

[–] [email protected] 10 points 18 hours ago

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

[–] [email protected] 5 points 16 hours 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.

[–] [email protected] 5 points 17 hours ago

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.

[–] [email protected] 13 points 21 hours ago (1 children)
[–] [email protected] 2 points 18 hours ago

SKISSUE says chat lol

[–] [email protected] 5 points 17 hours ago

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

[–] [email protected] 4 points 17 hours ago* (last edited 17 hours 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.

[–] [email protected] 4 points 16 hours 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.

[–] [email protected] 3 points 16 hours ago

Oh no! Anyways, what are y'all cooking?

[–] [email protected] 4 points 17 hours ago

There previously were scams that invoked Bill Gates’ name, but I guess crypto made it much easier, especially since anyone can watch Musk gush on about crypto on YouTube, thus validating the ideas for the gullible.

[–] [email protected] 25 points 1 day 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.

[–] [email protected] 2 points 16 hours ago

My elderly dad called me a few years ago to let me know that we'd have to change up all the security stuff for our family phone plan because he gotten scammed. He said he got a call from someone claiming to be a representative of the phone company who said they'd like to lower our monthly bill. I stopped him and said "well, that should have been your first clue... when in the last decade of us using them has that ever happened? When was the last time our bill went down instead of up?"

[–] [email protected] 2 points 17 hours ago

Don't it just break your heart?

[–] [email protected] 2 points 17 hours ago

They didn't realize that his "joke" on SNL was actually him being honest.

[–] [email protected] 237 points 1 day ago (2 children)
[–] [email protected] 9 points 20 hours ago (1 children)

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

[–] [email protected] 5 points 17 hours 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.

[–] [email protected] 8 points 17 hours ago

YOU'RE SO RIGHT OH MY GOD

[–] [email protected] 62 points 1 day 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.

[–] [email protected] 39 points 1 day ago

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

[–] [email protected] 112 points 1 day 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.

[–] [email protected] 182 points 1 day ago (2 children)

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

[–] [email protected] 120 points 1 day ago* (last edited 1 day ago) (4 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.

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[–] [email protected] 3 points 20 hours ago
[–] [email protected] 1 points 17 hours ago (1 children)

I always thought people with crypto was at least a bit technical and security minded

[–] [email protected] 2 points 16 hours ago

They were at first, and if you find someone going on about Monero they still might be, but most of the crypto bubble was the dumber, less successful finance bros trying to go to the moon or whatever. They don't actually understand crypto, they just use buzzwords to try to sell it to people.

[–] [email protected] 1 points 17 hours ago

the first good thing elon has done for humanity.

[–] [email protected] 17 points 1 day ago (1 children)

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

[–] [email protected] 5 points 1 day ago

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

[–] [email protected] 50 points 1 day ago

Tech bros are tech broing?!

[–] [email protected] 25 points 1 day ago (4 children)

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

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[–] [email protected] 17 points 1 day ago

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

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