In June 2020, a fake giveaway that impersonated Tesla founder, Elon Musk, raked in millions of dollars. This may be the template employed by another scam that is asking investors to send funds in Bitcoin and Ethereum for the chance to have their coins doubled and even win the grand price of a Tesla vehicle.

According to the scam site:

If you send in 2 BTC or 50 ETH, you will get the Grand Prize: a brand new Tesla Model S Plaid with Midnight Silver Metallic, Solid Black and Red Multi-Coat exterior, delivery included.

It is obvious that such scams wouldn’t fool experienced users, but the target of such giveaway scams are new investors who do not understand how things work in the space.

Giveaway scams that ask people to send crypto to verify their accounts are not uncommon in the crypto space. What is obvious is that there are people who are actually fooled by the fraudsters behind them.

Elon Musk routinely shill coins such as Dogecoin and has become a prominent influencer in the crypto space. This may be the reason why scams are increasingly associated with him as they have done with other known personalities such as Vitaly Buterin.