Baby Musk Coin ($2 million)
The scammers behind a new cryptocurrency coin called Baby Musk Coin raised $2 million in a so-called initial coin offering. What’s an initial coin offering? It’s like an IPO but for fake money.
The crypto scam was named after the wealthiest person in the world, Elon Musk, who has been known in the past to promote bitcoin and dogecoin. But Musk had nothing to do with this particular project.
A press release from the project that’s still available on Yahoo Finance claimed that a man named Grant Liu was the CEO of Baby Musk Coin. But Liu is almost certainly not a real person.
The Baby Musk Coin website is gone, but you can still see an archived version at the Wayback Machine. Incredibly, the website claimed Baby Musk Coin was “unruggable.”
As the website explained before it was deleted:
BabyMusk is a tribute coin to Elon Musk. Its community has one main goal: to catch Elon’s attention such that he will join the project. He is Hyper-deflationary with an integrated smart staking system built in to reward you in BTC that are being automatically added to your wallet each transaction. Simply hold BabyMusk in your wallet and watch your BTC grow.
So much for that.
