Fraudster Poised To Cash In With Fake Tesla ICO

March 5, 2021

Anyone conversant with the cryptocurrency market is aware that influential players such as Tesla CEO, Elon Musk have been instrumental in creating greater awareness for digital assets such as Bitcoin. It is not surprising that fraudsters are hoping to cash in on Musk’s interest in cryptocurrencies.

As reported in several cryptocurrency media, the Tesla CEO has severally posted tweets that directly showed that he is interested in cryptocurrencies such as Bitcoin and Dogecoin.

This is apparently the reason why a scam site promoting a dubious Tesla ICO has been launched. The objective is clearly to leverage the Tesla CEO’s popularity to steal deposits that are sent to the fraudsters address.

The so-called token Tesla ICO claims that TSL, the supposed token of the project would become the number one digital currency.

The scam site which wouldn’t fool an experienced cryptocurrency investor claims that:

“TSL is set to be the crypto-currency of the century. It is young, cheap, trendy and blazing fast. With its tons of super features, and poised to be the most decentralized crypto-currency in the world, you cannot but key into it here and now.”

According to the Timeline, the fraudster claimed that they started the market research for the token in 2018. They also featured a team with Musk and the Tesla management team on the website.

What is obvious is that scams thrive because there are many people that do not conduct due diligence before investing in digital assets. These people believe that profits are easy to make with cryptocurrencies, failing to understand that, just like money, you have to work for everything to earn.