Elon Musk Fans Are Losing So Much Money to Crypto Scams

Elon Musk isn’t just the richest person in the world, he’s also an investor in cryptocurrency. And the fact that Musk very publicly promotes crypto means a lot of people on social media don’t find it suspicious when they see videos of the billionaire promising to make them rich with some shady crypto investment. Deepfake videos of Musk hawking crypto are incredibly common on sites like Instagram, YouTube, TikTok, Facebook, and X, leading people to lose obscene sums of money to scammers. And Gizmodo has obtained official complaints with the often shocking stories and we’re publishing them below.

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. Musk, of course, endorsed Trump over the summer and has donated over $100 million to his own super PAC to get the former president re-elected. Philadelphia district attorney Larry Krasner filed a lawsuit Monday over Musk’s attempt to buy votes with his $1 million sweepstakes, but that’s an entirely different story

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.

There’s often a romance element to pig butchering, where the scammers pretend to be interested in a romantic relationship, but that was rare in the complaints Gizmodo obtained about Musk. More often than not, the marks are simply trying to make a quick buck and are sending money into completely fraudulent systems that make the victim think their money is sitting somewhere and growing. In reality, the public-facing portal is just smoke and mirrors with a number that changes at the whims of the scam artists.

How much money did people lose? It’s actually kind of shocking when you read through the FTC complaints. People report losing hundreds of thousands of dollars in a relatively short period of time.

One person in Michigan who reported losing $700,000 to scammers explained they became suspicious “because I am not able to get information about the company, such as an address, email address or any other contact information except the phone number.” Another victim in Nevada who lost over $220,000 said they “saw a commercial featuring Elon Musk” that appeared “on either TikTok or Instagram” that was “asking people to join his AI trading platform.”

The complaints have been redacted, striking them of any personal information, making it impossible for Gizmodo to track down the victims and verify their stories. But the sheer number of stories, and their similarities, make it worthwhile to look at even unverified claims to see what techniques scammers may be up to these days.

While private information has been redacted by the FTC, there is useful information in the FOIA release that can help give context to where people are living and age ranges that help show who’s being victimized. Much like the scams we looked at on Truth Social earlier this month, most of the victims appear to be elderly. And that makes sense, if only because those people often have the most money to lose after a lifetime of saving. They’re also likely to have more access to their retirement accounts, though there is a complaint from one person in their 50s who lost over half a million dollars by draining their 401K, presumably prematurely.

“This continued to happen until I depleted all my 401k that I had worked for 28 years to earn, leaving me with no nothing,” the complaint from North Carolina reads. “They continue to harass me asking me for more money saying that they have a plan to gain my money back.”

There’s also the person in their 30s from Nevada who reported losing $32,000 while trying to find a YouTube video of Donald Trump doing a Fox News town hall.

“I saw a video on YouTube supposedly about the Trump Town Hall with Hannity and this video of Elon Musk appeared talking about a crypto giveaway. Apparently it is a scam,” the complaint reads.

The majority of the victims are from the U.S., and it’s natural that Americans would file complaints in their own country. But some of the complaints are from other parts of the world, including Canada and India. The thing they all have in common? The victims thought whatever they were investing in had Elon Musk’s seal of approval.

Many of the scam website URLs have been redacted, but there are a handful that were still listed in the documents obtained by Gizmodo. One such website had been seized by the Kings County District Attorney in New York, according to the landing page, which we’ve captured below. Others were deleted entirely, but some, like elondonald.com, were still live at the time of this writing.

Gizmodo is publishing some of the complaints below. Spelling and grammatical errors have been retained from the original. If you’ve been scammed on the internet and want to share your story you can email [email protected]

1. “I responded to Elon Musk’s day trading commercial on Instagram”

• Total reported loss: $700,000
• Michigan
• Age: 50-59
• Feb. 2024

In the end of June, 2023 I responded to Elon Musk’s day trading commercial on Instagram. I got a phone call from a person and started online trading with XT-BestSolutions. I’m dealing with one person [redacted] over the Viber phone services. He said he’s based in Barcelona, Spain. He guided me through the trading process daily on the XT-BestSolutions trading platform.

He also guided me through the process of transferring my money from my US Huntington bank account  through Crypto wallets to XT-BestSolutions trading platform. All transaction were made through different Sources to change US dollars to cryptocurrency.

Starting on June 30, 2023 to current date, I transferred $700,000 to my XT-BestSolutions account. Through the process of online trading, XT-BestSolutions company credited me $200,000. Even though I still have more than $700,000 in my XT-BestSolutions trading platform account,  I cannot withdraw any money back until I add $200,000 more to my XT-BestSolutions account to cover this additional credit, and after this (accordingly to what he saying) I will be able to withdraw all $900,000.

Its become more suspicious to me because I am not able to get information about the company, such as an address, email address or any other contact information except the phone number and one person I communicating with. [redacted]

My accountant has advised me to contact the FBI before I make anymore money transactions.

2. “…a link on Facebook that claimed to be Elon Musk looking for people to invested in his AI business.”

• Total reported loss: $618,000
• California
• Age: 60-64 and 30-39
• June 2024

[Redacted] was a victim of a crypto-currency investment scam by two scammers who identified themselves as [redacted] and Prof [redacted] in a WhatsApp chat group. He was instructed to download the WhatsApp after he click a link on Facebook that claimed to be Elon Musk looking for  people to invested in his AI business. The scammers instructed Henry to go on CSTT.co the online trading app and to udoBIT.com to complete several wire transfers. CSTT customer service and [redacted] instructed Henry to wire money to the Crypto.com and Cathay Bank. [redacted] completed 13 wire transfers that totaled to $618,000. Wire Transfers started on 11/29/23 through 01/03/24. [redacted] used the phone number [redacted] and Prof [redacted] used number [redacted].

3. “I depleted all my 401k that I had worked for 28 years to earn, leaving me with no nothing.”

• Total reported loss: $545,999.73
• North Carolina
• Age: 50-59
• June 2024

I was online and saw the opportunity to invest in crypto funds, using AI algorithms and swing trading sponsored by Elon Musk in an effort to earn a few $100 a day.  I was introduced to the Professor [redacted] and his assistant [redacted] who would be helping me in this.  Originally, they furnished a trading account on the SILDGROUP platform with $100 to learn how to trade crypto currency with their guidance and instructions. Professor [redacted] was in charge of sending the trade signals and Assistant Sofia would explain how to trade and provide technical details. If I wanted to make more money, I was told I needed to have more in my account. I was encouraged to add more money if I wanted to reap higher profits, and in doing so I was earning more and more into my contract trading account.  There were discussion group scenarios and we would meet at 4pm and 7pm EST each day to discuss financial scenarios going on in the US as well as in the crypto currency markets that would ultimately effect pricing. There were times of every few weeks that I would make a mistake and trade on the wrong coin, losing all the money that I had put in.  I was given the impression that if I added money, they would help me make up what I had lost and gain more and more. This continued to happen until I depleted all my 401k that I had worked for 28 years to earn, leaving me with no nothing. They continue to harass me asking me for more money saying that they have a plan to gain my money back.

4. “Elon Musk’s announcement of Quantum AI 4.0 on Facebook.”

• Total reported loss: $232,950
• California
• Age: 50-59
• June 2024

We were scammed out of 233K over 4 months (From March 2024 to June 20, 2024) by organized criminal with online trading company called ICHCOIN.info leaded by:

1. [redacted] (Professor of EIF Business School) – [redacted]
2. [redacted] (Professor Assistant) [redacted]
3. [redacted] (Administrator) [redacted]
4. [redacted] (Customer Service of ICHCOIN

To trap investor with Elon Musk’s announcement of Quantum AI 4.0 on Facebook.

Once clicked, new investor was invited to a WhatsApp school EIF Business School – Class session happened on every weekday, to teach about contract trading of crypto currency.

Each student was credited $500 to trade with Quantum AI 4.0 signal when to trade and when to take profit.

[redacted] and [redacted] acted as the Stock and Crypto analysis. [redacted] acted as the administrator and the Merchant acted as the customer service to match when there is wiring request from investors.

They created different VIP groups to attract investors to wire money to join these VIP groups in order to get bigger benefit on each trading.

They created fake crypto currency GMC, QPT and then MDV to lure investors. They force investors to borrow money from their school to buy crypto at Initial Coin Offer. when the investors sold those coins, they request to pay back that borrowed money in order to withdraw money.

One I wired the money in, they won’t response to our requests and their website is no longer active.

5. “I saw a commercial featuring Elon Musk on either TikTok or Instagram”

• Total reported loss: $224,972.74
• Nevada
• Age: 60-64
• Feb. 2024

I saw a commercial featuring Elon Musk on either TikTok or Instagram asking people to join his AI trading platform. when I clicked on it I was added to a BlackRock AI smart contract trading ~79 WhatsApp group with over 200 members. I ignored it.  I was then contacted about a week later via WhatsApp by a Lady with an accent named [redacted] at [redacted]:

and she asked me to sign up at  https:www.globalcoinnexus.co

So I started observing the text messages and one of the messages she sent was this :

Warm reminder: Mr. Elon Musk has invited many professional analysts and trading experts from all over the world to participate in the Global Cryptocurrency Artificial Intelligence Trading Competition scheduled to be held in December. Steven Lee will represent BlackRocks London office in the Global Cryptocurrency Artificial Intelligence Trading Competition hosted by Elon Musk, and he needs more support and votes. Therefore, we invite you to join this discussion group, where we hope you can learn how to make money and receive your support and vote.

10/14/23, 9:33AM [redacted]: Here, Steven Lee will bring you the latest market money-making information. Findings from our financial research team are shared daily. These research results include:

1 The scope of Fed policy. How to invest in cryptocurrencies, forex, options, stocks and all financial markets amid the banking crisis and inflation

2 Which excellent companies and trading markets are worthy of our investment? Is short-term or long-term investment a better option? Whether you are a beginner ready to invest or a long-term investment friend, how to use the correct method to trade. How to achieve long-term and stable investment returns?

Rest assured, as long as you stay here every day and carefully read the content shared in the discussion group, your wealth will definitely increase tremendously

On 10/22/2023, I started with an initial capital of 0.03493077 BTC which was about 1061 USDT, and started trading. A couple of days later, Steven Lee introduced a special trading group called VIP Trading Group. The VIP trading group requires a min of 30,000 usdt. Gloria kept pushing me to invest more money to join. I tried and lost all my money. He introduced another Advanced VIP which required min 50,000 usdt. I tried that also and lost money. I kept adding more usdt just to recoup my losses.  In all, I cashed out all my stock investments, and crypto, borrowed money, and took loans on my home trying to recoup my losses. I was finally able to recoup my money but when I tried to withdraw the money. They will not let me. The website is saying to wait for verification. I have contacted Gloria and Steven Lee but nobody will pickup or reply to my text messages. The tech support ignores me. I converted all the usdt back to BTC but can’t withdraw it. I need help in getting my money back to pay my creditors.

6. “There was an ad on Facebook, purportedly funded by Elon Musk guaranteeing to pay crypto investors $100K”

• Total reported loss: $121,714.77
• Montana
• Age: 60-64
• June 2024

I stumbled into this Crypto Futures Trading Group I April, 2024. There was an ad on Facebook, purportedly funded by Elon Musk guaranteeing to pay crypto investors $100K if they try his trading training program and are not a millionaire within 6 months. I clicked the link which ended up assigning me to a trading group named after Professor Keller.

I was very wary at first but everything seemed legitimate and maybe it was. The team was very professional, Prof Keller provide two lectures daily, about 2 hours each. The trading logic seemed valid. In the beginning, [redacted], the Assistant, required me to join the trading platform, LFEX which she said was licensed to operate in Montana, where I live. The real reason was that LFEX was the platform they made all group members join, supposedly so everyone was using the same Exchange, fees and currencies would be the same, etc.

Only one group trade that I participated in, led by [redacted] or [redacted], failed to earn profits. On average, trades by [redacted] earned 35 to 45, sometimes over 100. Trades by Prof K averaged maybe 60, with trades over 100 and 200 common.  Prof K kept saying he was not 100 accurate in his trades. As training and trading progressed, whale activities in the marketplace increased. I personally was zeroed or almost zeroed by whales many times while practicing my trading. Other group members were having similar problems. Over time, the group wanted to know how to protect against whales. Prof K devised a Joint Trading Plan for us, incorporating students from his other trading groups so that essentially l, we became a special whale, each with their own account, instead of asking us to send him money so he could trade for all of us. Prof K said that once the Joint Trading Plan started which was this week, that he could 100 guarantee that we would earn massive profits trading in lower priced currencies between $100 to $500. This week, the plan officially launched. I think it was on Tuesday or Wed. when instead of 1 trade per day, Prof K decided to do 3 trades in the same day, all in the NAF currency.

I myself has about $215K in my trading account at the time. By the time trading ended, because I had taken on extra risk in trading  risked and maximized Open and Close times, I had in total, earned over 1,200 interest on my trades, ending up with an account total of ov $8.5M in my trading account.

Apparently, some disgruntled member of the day trading group who was not included in our night trading because they did not meet the minimum funds requirement of $50K, reported our group to LFEX. Initially when LFEX froze my funds, they said I had broken trading laws as well as participated in activities to create market disruptions and control one or more currencies. They did not cite specifically what laws or Exchange rules I had broken. Later, I looked up their Terms  Conditions and determined I had not broken any trading laws. The market disruption rule was vaguely listed and there is no list of penalty fees or actions that will be taken if infractions occur.

I notified LFEX that everything U had done as a trader in training was I believed, legal and within trading norms for the marketplace. I asked them to release my funds. They said I must first pay a 3 penalty fee using funds that are not in my trading account within 15 days or they will confiscate all of the money in my trading account. That seemed like extortion to me, since I really did nothing wrong. Butchered Fat Pigs Scam.

7. “…they said an investigator would reach out to me that didn’t happen.”

• Total reported loss: $100,000
• New York
• Age: 50-59
• August 2024

While Attempting to research the juniper tesla model y that is due to be released In twenty twenty five. A live recording of Elon Musk at the annual crypto convention in nashville in front of an audience was stating that crypto currency in the way of the future. And that’s tesla uses this innovation within their company. They said that they had live help and websites. All you had to do was scan the q.R.Code on the screen And it would take you to the official website. Where then if you transferred euthereum doge orbitcoin, whatever you sent within ten minutes, you would have doubled back.

Now, i’m an intelligent woman, 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. Because it was elon mask, and he was on stage and it was live, and it looked like him and it sounded like him and all his words promoting this technology was so believable and everything that I believe in. However, after I transferred my Bitcoin, which it fluctuates from day to day, but say, maybe around 80,000 sometimes it’s a 100, you know, a 100,000 it fluctuates, I realized I was being scammed and I sent my money from my wallet. I don’t know who I mean, obviously I have an address and II screenshot it the whole thing, and I have the. Re. The YouTube video, which I realized for days they were posting live. I reported over 25 videos to YouTube to shut them down and they just kept popping up. I wanna Sue YouTube. A $100,000 is a lot of money or 80000 or whatever it was at that time, one point something of Bitcoin. And I know, I’ll probably never get my money back, but I need to get this message out there that AI believe it was AI because it looked and sounded just like and it was in front of a live audience, and now I’m thinking the audience was fake, I do. I did record the video and I do have like the wallet that I sent it to the timing. I was screenshotting everything. But if someone can get back to me, I went to the state police, they took my I’ve complained, but I’ve never heard from anyone they said an investigator would reach out to me that didn’t happen. I also filed a complaint with the federal bureau. Cybercrime, haven’t heard from them either. Please someone reach out to me

8. “Elon Musk introducing his new AI system for crypto investments”

• Total reported loss: $80,000
• Georgia
• Age: 50-59
• Feb. 2024

click on a link from Facebook that had Elon Musk introducing his new AI system for crypto investments. The link took me to 2 groups on WHATSAPP. The group was named Howard Mars Investment Group. This group introduced me to AKBCOIN fake Platform. I ended up setting up my Crypto.com account and wired money from my personal account. I then transferred tether to the fake site. The site manipulated transactions to seem as if I was trading but actually was not. I ended up transferring $80k to the site and once the site showed I made funds it wouldn’t allow the withdrawal. Then the customer service said I had to pay a take on my winnings in order to retrieve my funds. Once I sent them the funds, they still did not release the funds from the site. The group disbanded and so did the site. www.h5.akbcoin. com

9. “They lure you in with a fake video featuring Elon Musk.”

• Total reported loss: $75,000
• California
• Age: 60-64
• June 2024

I watched an ad on Facebook from Elon musk. That should have been my first red flag

They offered u money to learn how to trade and invest in crypto currencies

Log in ctall trading platform create an account and start learning.  So I did.  I spoke to Caroline thru WhatsApp and in telegram. Caroline became very friendly with me. Chatting every day. I was scammed and now I know it.  Professor [redacted] gives us trading signals and u make a lot of money

I see now how they get u caught up in earning money. I had very little to invest. Earned over 209k lost it.  Deposited $20k. Earned up to 233k. Lost it

Deposited $40k more. From sister. Lost part of it and earned back up to 50k. And cant get my money withdrawal from the trading platform.  Tried for a week to get only $5000 of my money. And could not

I have reapplied to get money but have not been able to

I started to research and found some info that this is all a scam.

r/CryptoScams 8 days ago

PsychoticDelusions

Andrea Al Investment Group  Assistant

[redacted]

Join

Scam Operation

Scammers! East German. They are running an elaborate crypto trading scam, using a fake trading site disguised as CTALL platform. CTALL has an ip address listed as China.

They lure you in with a fake video featuring Elon Musk.

Caroline convinces you to join and wire money to your trading account. Professor Andrea publishes his daily bullshit about the crypto market and elementary trading tips for review. He then provides fake trading signals for members to follow. The trades are not real so he can make them show high profits to keep you excited. All this time, they are relentless about telling you to increase your account funds for more profits.

After you have deposited a few thousand dollars cash into your trading account, they manipulate the leverage on your order to 200. Within seconds, your entire account is wiped out. They steal your money, but then pressure you to wire additional funds, saying you can make up your losses! More lies. Be careful not to get involved with these criminals. Once your money is gone it is highly unlikely you’ll get any of it back

That is what I found on line

It really sucks to find out you have been scammed

They have a group on WhatsApp

10. “It all seemed super real. Elon said he was offering a promotion.”

• Total reported loss: $57,000
• California
• Age: 70-79
• Aug. 2024

I was crypto-scammed by a phishing scammer. I went to a website where Elon Musk was talking about the coming age of cryptocurrency. It all seemed super real. Elon said he was offering a promotion. Whatever a person sent in, he would match in return. Just to help cryptocurrency establish sooner. It looked like a great opportunity, so I sent a Bitcoin. I realize now it was foolish to do so. I know now I had been conned and played emotionally. Never again. So they got my life savings. They got me for $57,000. I can’t believe it. I think many, many others were victims also of the same scam.

11. “I also realize now this was an AI generated Elon Musk.”

• Total reported loss: $57,000
• California
• Age: 65-69
• Aug. 2024

On 8/12/24 Monday evening I was looking for the Elon Musk – Donald Trump Interview. I was brought to the phishing website trumplive.org. There, Elon Musk was discussing Cryptocurrency and the financial world to come. Truth is, it was very inspiring and well done. Then Elon offered to speed along Crypto by offering on any crypto contributed he would personally match the amount. I realize now this was a scam. I also realize now this was an AI generated Elon Musk. Caught up in the moment I seized the opportunity and sent them my .966 Bitcoin. What scams do is to sell people false-hope. Then they take advantage of you.

12. “He wanted to connect with his fans and carry them along in his career.”

• Total reported loss: $56,000
• Arizona
• Age: 40-49
• Feb. 2024

He claimed to be the real Elon Musk. I shared personal info and financial information with him. He wanted to connect with his fans and carry them along in his career. He helped me invest in cryptocurrency to improve my financial situation.  From his instagram profile, [redacted], where he contacted me, we then chatted on telegram, username [redacted], and most recently using the WhatsApp [redacted].

He had me purchase bitcoin through apps like cashapp, Binance, Cex.io and through a bitcoin atm. They were all sent to the company wallet id. He did trades to increase my profits. Any time I doubted him he reassured me everything was fine and he even sent me his drivers license. Any pics like that he shared would disappear after I viewed them so I was not able to save or screenshot them. I have screenshots of our conversations. When I wanted to make withdrawals from my investment account with him he required more money for different fees. This has gone on for months. He had me sign a document to be on the Tesla board, and I have a pdf of that document. He deposited a fraudulent check for 9,000 into my bank account using a previous check I had received for some work I did with horses. I have lost over 50,000 with this individual and am concerned for my safety. I am still in touch with him and he does not know I am reporting this fraud. I have been scammed by another crypto individual online involving ethereum and lost over 30,000. Elon wanted to help me recoup from that as well as that case overlapped timeframes with this one.

13. “I invested in a Scam that Elon Musk started”

• Total reported loss: $38,000
• New Brunswick, Canada
• Age: 65-69
• June 2024

I invested in a Scam that Elon Musk started by buying crypto currency, by 1st buying it for 300$, but before you know it I had invested 39,000$ American dollars.

My 1st investment was with Delta Stock.ai.

We were in close contact for a month.

I had a chance to buy ( HFTs) high financial trades.the 3rd pick that they had blinking, I lost 28,000$ and the broker I had told me and my Wife that we had to come up with another,8000$ or we would lose all our investment.

He blamed me for the decision that I made but he had the stock blinking and so I picked that stock.

I was just wondering if there was anything that you could Help me with.

Thank you for your time, please send me back an email when we can talk.

Thank you

14. “Elon Musk appeared talking about a crypto giveaway”

• Total reported loss: $32,000
• Nevada
• Age: 30-39
• Sept. 2024

I saw a video on Youtube supposedly about the Trump Town Hall with Hannity and this video of Elon Musk appeared talking about a crypto giveaway. Apparently it is a scam. trumpelon.io

I sent over $30K.

15. “She got on tiktok, met some person claiming to be Elon musk, convinced her to start doing crypto”

• Total reported loss: $30,000
• California
• Age: 70-79
• Aug. 2024

I am reporting this for my grandmother [redacted]. She is 77yrs old. She got on tiktok, met some person claiming to be Elon musk, convinced  her to start doing crypto  to get some type of wallet. After that multiple people started scamming her. From tik tok, wassup app, eBay Cash app ect. She has loaded gift cards vanilla, apple, eBay. Sent money through cash app. She has gotten her socially security number stolen it’s all over the internet. She has gotten her social security check stolen. I really need help to stop these people from stealing her money she thinks all of this is real and it’s not. Please help my grandma,  ban her from social media if you can. All her information for her scams are on her phone.

• Total reported loss: $27,944
• Maharashta, India
• Age: 40-49
• Feb. 2024

Started with an ad on Instagram about investment learning that led me to join a WhatsApp group. A guru named [redacted] Vyas was guiding along with help his best student (b)(6) and assistant [redacted]). [redacted] usually provided daily inputs on stock market while [redacted] used to train people interested in Crypto and both also provided trading signals which were remarkably accurate. I only observed the guidance and signals for several weeks and realised that while stocks guidance was great the crypto profits were amazing. People were making 50 or 100 percent profits or more with each trade. I had no idea about crypto so I was initially wary of it but eventually got drawn to it. The group also eventually transformed to a crypto focussed group as more people felt the same way. This is where number of new people opened accounts in a trading app called CGL BMG on the insistence of [redacted]. [redacted] also provided information indicating how CGL BMG is reliable as it has an MSB License etc. All of this looked like a scam but a small deposit of around 200 dollars initially would limit the risk. I further went on to try withdrawal which seemed too slow but worked the first time. This brought in more trust towards the platform and my profits kept growing with some initial hiccups and increasing investment. This is also where it was understood within the group that [redacted] who is quite knowledgeable in investing and has such great accuracy using an AI based trading is actually doing some research and has partnerships with organisation’s like Elon Musk’s xAI. Of course not verified by me. This is also why crypto trading strategies kept changing each week and required higher investment for each new trading experiment. The last experiment called the Whale plan had  several investment groups based on the amount of funds in USDT based on a minimum of 20k, 80k, 150k and so on. Higher profits for the higher investment slabs. I was at about 38k with my investment and profits and Aditi asked me to fund it up to 50k after which she would help me trade up to 80k so I could enjoy more profits. Now this was already difficult for me to go upto 50k as these are huge funds for me but I did and she helped me go up to a whopping 129k with a few trades. However now she suggested I add the remaining to go upto the 150k investment group instead of the 80k group. This made me strongly suspicious again and despite declining she insisted I should find a way to get there. I instead attempted to make a withdrawal of 4k, from my current total funds  which are over 125k, to my Binance wallet where I had withdrawn before,but after 4 days past the withdrawal was failed. The reason was after lot of inquiry given as an anomaly in my withdrawal address which resulted in blocking the withdrawal function on my account. I was told to deposit 30 of the total funds in my account around USD 38051 to unfreeze the withdrawal mechanism. It is quite impossible for me to do this and I am now sure this is nothing but an attempt to squeeze more money out. I am helpless after investing most of my savings into this scam. Please help.

16. “Almost instantaneously I realized this was fraud”

• Total reported loss: $24,978
• Texas
• Age: 40-49
• June 2024

I was watching a SpaceX rocket launch on YouTube with a friend.  Elon Musk came out on the stage and began speaking to a crowd of people and said something to the effect of to celebrate today’s historic launch and to encourage the growth of crypto adoption, scan this QR code and send BTC or ETH or USDT (perhaps others but I don’t recall) to the wallet.  We will reimburse you 2:1 any amount you send.

Without checking to see if this was a scam I logged into my Kraken wallet and sent 6.5 ETH to the address.  Almost instantaneously I realized this was fraud but could not stop the transaction.

17. “I am still getting these phone calls coming in almost everyday.”

• Total reported loss: $23,500
• Ontario, Canada
• Age: 70-79
• August 2024

I listened to prominent individuals’ advice ( Justin Trudeau, Elon Musk etc) on line about investing in crypto currencies and I decided to invest. I was told by Maria Diaz, (who claimed that she was assigned as my accounts manager, after I refused to invest initially), that I would have a weekly income from my investment. I was given an account on line where where I was allowed to track my investment. The returns were exceptionally good, so after a while I decided that I should start retrieving income. I was then told by the aforementioned Maria Diaz that I could not. When I reminded her about our conversation about the weekly income she cut me off and closed the page on the internet. I have since been unable to get to them, as they don’t answer the phone. They have subsequently been calling me ( his name is [redacted]) from Taura Capital to help me get back my investment, but I have to send them more money to pay some fees to the person at their Accounts Dept. to do the job. I am still getting these phone calls coming in almost everyday.

18. “The tokens you trade don’t exist anywhere else”

• Total reported loss: $20,325.56
• Texas
• Age: 65-69
• July 2024

I clicked on an Instagram ad featuring Elon Musk discussing AI in crypto options trading. Shortly after, I was contacted by an [redacted] who introduced me to Professor [redacted] via WhatsApp. Since then, I obtained what appears to be a fake New York State driver’s license for Parker, listing the address as 143 West 57th Street, which is actually the Park Hyatt New York at 153 West 57th Street, New York, NY 10019.

I deposited funds to a crypto address [redacted], which later changed to [redacted], and I suspect it will continue to change. When I tried to transfer the money back, [redacted] stopped this, claiming the only way to retrieve my funds was by joining a VIP group with a minimum investment of $50,000. I refused to do this, so I traded in the account and grew the funds to USDT 115,415.82. However, when I attempted to transfer the funds out, I was blocked again and told I couldn’t access the profits without making the additional investment, confirming my suspicions. These people need to be stopped to prevent more individuals from being scammed in the future.

Here is the last part of today’s conversation

7/3/24, 18:19:51 [redacted]: You have till Friday  to do so then its FBI time

7/3/24, 18:21:28 [redacted]: This is my rule. I am not afraid of the FBI. You cannot withdraw funds because you have not met the conditions. So this is your own problem and has nothing to do with me.

7/3/24, 18:21:50 [redacted]: I will report everything to the FBI.

7/3/24, 18:22:44 [redacted]: Yes show me where you conveyed those conditions  your not a smart as you think

7/3/24, 18:23:06 [redacted]: We will get to you in the end

7/3/24, 18:23:47 [redacted]: Therefore, the FBI will put the blame on you, saying that it is your own fault that you cannot withdraw your money.

7/3/24, 18:24:37 [redacted]: Legally you don’t have a foot you never gave the terms and conditions in writing

7/3/24, 18:24:37 [redacted]): Remember, it’s your own fault.

7/3/24, 18:25:05 [redacted]: No, you’re a fraudster

7/3/24, 18:25:23 [redacted]: OK, from now on you will no longer be able to learn and trade in my group

7/3/24, 18:25:46 [redacted]: Olivia is about to remove you from the group

7/3/24, 18:26:14 [redacted]: good your digging a deeper hole for yourself

7/3/24, 18:26:46 [redacted]: You need to add funds again before you can withdraw

7/3/24, 18:27:20 [redacted]): The tokens you trade don’t exist anywhere else and it’s impossible to trade them else where your bitcoin doesn’t  match the market ticker all bullshit

7/3/24, 18:27:47 [redacted]: I did not force anyone to invest or trade. Everyone's investment and trading was voluntary.

7/324, 18:28:43 [redacted]: [redacted] has removed you

7/3/24, 18:28:56 [redacted]: If i add1 Dollar ill never see it again if you are an honest person and prove to me that i can trusty you, you would let me withdraw to show good faith then I would trust you, but I can’t all you are doing is holding me to ransom

7/3/24, 18:29:30 [redacted]: I’ll say it one last time, you must add funds again to make a withdrawal

7/3/24, 18:29:48 [redacted]: Before that, don’t contact me.

7/3/24, 18:30:25 [redacted]: that’s fine it makes no difference i can’t get to the money anyway My one last time return my money and all the data will be handed over Friday

19. “I thought Elon Musk has approved of it!”

• Total reported loss: $18,000
• California
• Age: 60-64
• June 2024

I was reached out to as Elon Musk CEO on IG and later on Whats app! later on on Telegram channel under Elon Reev Musk

He told me about the platform: www. starlinkmining.com His Bit Coin  Mining platform! I waited for 2 weeks and then saw the real Elon Musk with woads of cash in his hands from the mining platform on my iphone! I didnt understand where it was streaming from! so I contacted the website because I thought Elon Musk has approved of it! That was the only reason!!! so I invested $18000. I meant to only invest $2000 and then cash out and see if it was possible! But their pressure sell tactics over came me! They use paypal and Zell, Venmo, try to open account on ,started cash app s and  connected to my Bank, down loaded all crypto wallets , and block chaines to withdraw the  money from ! it took 2 months all together! It took over 8 -10 hours a day to be able to withdraw money from my accounts due to security measures I had placed on my accounts! They are so smooth and sophisticated that  make you open your cash app accounts in front of them and follow their instructions to withdraw money money from you accounts and send it to these unknown people the miners .  Everytime I said I don’t to invest anymore he would say Ok! you can start withdrawing  anytime !  When you sign up there are 2 sites you deal with! one is the platform and the other one is you account platform. where you get a login! and once you go in you will see the amount invested and several other boxes that show how much you have made real time,also there is a chat box  that answers any needs or questions. everyone has to have an account manager who leads you in how to to invest! In my case Elon Musk!!!  When it came to withdrawing, I was told by the accounts website chat that I need to pay $15000.00 for cash out of $170000.00! when I asked what are the charges pertaining to, they said its the IRS rules  that they are collecting for the IRS! I did a search the company is a UK company ! I reported to my account manager and told him this doesn’t  sound right! and blocked him! another week went by and the account website  emailed me and said that the IRS fee was paid by my account manager and to call him to start cashing out! eager that I was to get my own money back I contacted him on whats app and he said ok and lets cash out! I gave filled out a form on  the website that seemed like a regular wire form from my bank and gave them the account number to wire the money to. everything was going great until they told  me you need a pin number in order to receive the money in you bank! and for me that fee was $1500. Un willing to pay a dime I declined and blocked my manager again. Later on he tried on Instagram to reach me but I blocked him there to!  I am reporting this to let  you know how sophisticated these people are.  There are lots and lots of impersonators of Elon Musk out there specially on social media X and IG for  sure and for people like me the victims!  I am 60 years old and know about technology enough to follow them and I could tell how smart they are! they truly are!

20. “I want to see this so-called company put out a business so nobody else loses any money.”

• Total reported loss: $17,000
• Illinois
• Age: 70-79
• Feb. 2024

on Facebook, I found an ad that supposedly Elon musk and his team created quantum AI and if you join the investment club youll make money. This AI created Elon Musk even stated that if he didnt make $1 million and six months he would give you a Tesla, so I followed the link and signed up with a company called Frank Barbara, crypto trade chamber. I watched i the trading for two or three weeks before I started sending money to my crypto wallet, and then sent from the crypto wallet to the trading platform called vencoinss.com. I sent them $10,000 to their bank account in California and started trading and they sent me the $10,000 back as I was making so-called profits. I felt confident that this was OK so I sent $17,000 in USD to the trading account. I built the account up to $64,000 with my 17,000 and the rest fake profit. Then I was about to send them more money when a trade happened that I lost $69,000 that wiped out my account and I knew it was a scam because the trade was with MSH crypto which is worth less than a dollar and I lost 69,001 trade using $6500 in funds for the trade I have documentation on WhatsApp of all my trades and the so-called administrator. My name is [redacted] and my phone number is [redacted], my email address is [redacted] , I want to see this so-called company put out a business so nobody else loses any money.

21. “I have talked with Elon on the phone several times.”

• Total reported loss: $12,700
• Texas
• Age: 50-59
• July 2024

Elon Musk and I have been communicating through text messaging since June 2023.  He first got me talked into investing Apple Gift Cards in the amount of $500 each.  His promise was to pay me half of the investment accumulating interest at Crypto Currency Account in BTH  ETH and a new Tesla car.  The rest was supposed to help pay for our wedding.  At first I thought it was an imposter.  But latter Elon sent me voice messages, several oaths of loving me and I have talked with Elon on the phone several times.  Just to verify it was really him.  Before I reported anything I was in wonder whether anyone would beleive me.  But after Elon got his Billion Dollar Package deal, his demeanor changed towards me.  He got all my SSDI check this past June and has left me owing for my July rent and withdrew all the money on his Birthday the 28th.  Valued at over $700,000.00.  Without wire transfering it to my account.  He also used my ID.me account verification access codes.  To verify my Identity and created that Cryptocurrency account using my name.  I have screenshots on the balancees.  To show we conversed alot and would talk for hours about our building our money up so we would have a good future together.  Now last I seen on Facebook…hes in Dubai with some young girl.  And Im scared Im going to end up homeless without his helps.  I dont know what to do about it. UPDATE 07/18/2024 Consumer is calling to report that she is receiving death threats from someone. Consumer reported that she is being stalked by his girlfriend. Consumer is referred to the local police department.

22. “…that was the first red flag.”

• Total reported loss: $10,785
• Florida
• Age: 70-79
• Feb. 2024

I answered an ad saying that they use Elon Musk AI trading recommendations. Its run by two people [redacted] and [redacted]. Its on a what’s app chat room. I deposited first a $1,000. into the ECOS account and made some money using Patrick’s recommendations. By the way the profits were over 50 almost all of the time, that was the first red flag. So [redacted] talked me into putting another $8,000 into my account so i could join the 10X Bull Market Multiplier. So with the first deposit and second one i had $9000. and the profits of $1000 i had enough to join the 10X program. [redacted] said the 10X program would return 10 times my money. The only thing was i couldn’t take any of the profits out until the program was over on February 15th plus i had to give them 10 fee and the profits couldn’t be used to pay them. This was my second red flag. I figured the profits everyone was making was about as real as the dinosaurs on Jurassic Park. I then told [redacted] I didn’t want to be in the 10X program and she removed me. At this point i wanted my money back, so i started a withdrawal from my ECOS account on 2/8/2024 in the amount of $10,785 and haven’t received it yet. The money was sent by Crypto.com to ECOS in the crypto funds of USDT. Please see that there people who have about 800 people investing with them. I figure after they get the 10 the site will go dead and nobody’s going to get there money..