Dogecoin scammers pocketed millions by exploiting Elon Musk’s ‘SNL’ appearance through giveaway schemes on YouTube, a report says | Currency News | Financial and Business News

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Elon Musk with his mother, Maye, on “Saturday Night Live.”

  • Con artists netted dogecoin worth $5 million through fake giveaways while Elon Musk hosted “SNL,” a report says.
  • Victims were tricked into believing they would receive twice the dogecoin they sent, it said.
  • The report said many of the misleading YouTube videos had been taken down by Sunday.
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Dogecoin investors eagerly awaited Elon Musk’s “Saturday Night Live” appearance, expecting his remarks to send the meme coin to new highs.

Quite the opposite happened. Not only did the cryptocurrency tank by 30% over the weekend, but the dogecoin community was led on by con artists attempting to trick them out of their holdings, a new report says.

The report, published by the blockchain intelligence provider TRM Labs on Monday, detailed how fraudsters manipulated Musk’s…

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