Elon Musk Backed Dogecoin Accused In Million Dollars Ponzi Schemes
Elon Musk’s favourite cryptocurrency, Dogecoin (DOGE) can also be changing into a good alternative for customers concerned in illicit actions. Elliptic Join has noticed incidents over the globe the place DOGE token has been concerned in lots of thefts, scams and Ponzi schemes.
DOGE concerned 50 fraud occasions
In accordance with the report, until now round 50 such events have come below their scanner. These incidences concerned thousands and thousands of {dollars} value of Dogecoin. It talked about the theft of round $119 million of DOGE linked with a Turkish Ponzi scheme in 2021. A pseudonym identify “Turgut V” is believed to mastermind behind this incident.
As per stories, Turgut and his associates managed to affect round 1500 DOGE holders to spend money on their scheme. They promised buyers a 100% return in simply 40 days. It added that the fraudster satisfied buyers through Zoom calls and luxurious conferences. The pseudonym managed to collect over 350 million Dogecoin which is valued at round $119 million at the moment.
Elliptic Join talked about that the launch of the Dogewallet has additionally resulted in hacking associated actions. Nonetheless, it additionally highlighted the Plus Token Ponzi scheme. As per stories, the Chinese language authorities seized around 6 billion DOGE tokens. In the meantime, round $4.2 billion value of digital belongings together with Bitcoin and Ethereum have been grabbed by the police.
Elon Musk accused of selling Dogecoin
In the meantime, self claimed Dogefather, Elon Musk acquired sued for round $258 billion by a DOGE investor. Tesla Chief has been accused of working a pyramid scheme to run the Dogecoin. The criticism mentions that Musk, Tesla Inc and SpaceX promoted the crypto to pump its worth.
Musk has been a giant promoter of the DOGE. Each time he makes any remark associated to the token, it worth jumps. The latest announcement of the Twitter deal made the crypto pump. The plaintiff desires to dam musk and his firms from selling Dogecoin to revenue from its buying and selling.
The Dogecoin is buying and selling at a median worth of $0.0641, on the press time.
