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Breaking News / Ethereum

Elon Musk Thinks Ethereum Is A Scam, But He Still Wants It

Elon Musk, the man, the myth the legend? Whatever you think of him, you can’t deny that he has a notorious presence within cryptocurrency. According to recent reports, he’s now jumping on the Ethereum train, even though he’s suspicious that it could be a scam.

What is this all about?

Okay, so to give you some background, this stems from the epidemic in fake Twitter accounts claiming to be Elon Musk doing Ethereum giveaways. As you know, there are many fake accounts on Twitter that offer users free Ethereum if they send a small amount of crypto to another wallet (usually owned by the scammers). Twitter have made efforts to remove such fake accounts so this is an issue that is being dealt with. All things considered, this is why Musk is referring to Ethereum as a scam, he’s trying to be funny, it’s a joke, so calm down and don’t worry, Ethereum is not a scam.

The latest tweet from Musk came via a string of tweets in response to one user who asked Musk if he is going to send ETH to them (it’s a satirical response to the fact a number of fake Musk accounts have been taken down). According to Ethereum World News:

“Musk, who is clearly aware of these bots as established, jokingly fired back a reply, adding that the ETH that was promised is coming, I swear. As such a reply wasn’t unexpected by the man himself, Twitter users quickly flocked to the thread to further the conversation. After likely receiving hundreds, if not thousands of messages regarding ETH, other crypto assets, and blockchain tech, the world-renowned entrepreneur made one final comment on the situation.”

Musk then concludes:

“At this point I want ETH, even if it is a scam.”

This is still a very big issue, one that is plaguing the crypto community on Twitter. The best way to protect yourself from these fake accounts and fake giveaways is to simply ignore them. Nobody is giving away free cryptocurrency as, that’s not how the world works i’m afraid. Don’t use Twitter to source your research, instead, focus on the websites of the projects you’re interested in. If you think someone really is giving away ETH and you want in, cross check your findings with other websites and users.

Don’t be naive, trade safe, and you’ll stay safe.

References

Ethereum World News


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Adrian has been leading teams in the finance sector for over a decade. He is highly experienced, and is responsible for ensuring that the latest news is delivered to you as it is breaking. He has a keen interest in virtual currencies, and has even made investments himself, so is incredibly passionate when it comes to writing about this topic. He knows the news pieces that are interesting to the reader, so will ensure that he keeps you up to date on all of the relevant news in the cryptocurrency world.