Elon Musk, owner of the social network X, recently pointed out during the X Takeover event that he does not promote cryptocurrencies, and that any project on the subject that involves his name on social networks is a scam.

Musk indicated that he certainly sees great potential in Bitcoin, but that he does not promote cryptocurrencies or projects in this market. He reiterated that he was a fan of memes and hence his predilection for Dogecoin.

However, his constant promotion of this memecoin has generated controversy, as it has been considered market manipulation. Musk’s lawyers have come forward to address these accusations, denying his involvement in “pump and dump schemes for Dogecoin,” noting that “there is nothing illegal about tweeting supportive words or funny images about a legitimate cryptocurrency.”

The owner of Tesla indicated that people should be cautious when participating in a cryptocurrency project; verify that it is indeed a verified business.

Spambots and fake accounts that promote cryptocurrencies on the networks continue to increase, attracting victims who seek to enter the market. Musk’s warning goes beyond the use of his image or any connection with him with cryptocurrencies and emphasizes that it is the authorities who must implement the necessary mechanisms to prevent fraud, hacking and theft of assets.

M.Pino

(Reference image source: Shubham Dhage in Unsplash)

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La entrada Elon Musk warns that crypto projects on social networks with his image are scams apareció primero en Bitfinance.