{"id":23018,"date":"2025-04-21T14:16:54","date_gmt":"2025-04-21T14:16:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23018"},"modified":"2025-04-21T14:16:54","modified_gmt":"2025-04-21T14:16:54","slug":"cz-receives-fake-grok-coins-amid-new-wave-of-elon-musk-scam-tokens","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23018","title":{"rendered":"CZ receives fake \u2018Grok\u2019 coins amid new wave of Elon Musk scam tokens"},"content":{"rendered":"
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\"CZ<\/p>\n

Scammers are once again capitalizing on the popularity of Elon Musk\u2019s artificial intelligence chatbot Grok, with fake tokens once again emerging as part of potential phishing attacks.<\/p>\n

A wallet linked to former Binance CEO Changpeng \u201cCZ\u201d Zhao received 90 million fake Grok (GROK) tokens on April 21, according<\/a> to blockchain security firm PeckShield.<\/p>\n

The tokens are \u201clikely a scam,\u201d since the \u201cdeployer distributed it to multiple addresses via multisend,\u201d PeckShield said.<\/p>\n

\"CZ
Source: <\/em>PeckShieldAlert<\/em><\/a><\/figcaption><\/figure>\n

The X platform\u2019s Grok AI chatbot<\/a> has no official cryptocurrency and no plans to launch one in the future.<\/p>\n

Related: <\/strong><\/em>Bitcoin up 33% since 2024 halving as institutions disrupt cycle<\/strong><\/em><\/a><\/p>\n

Fake tokens related to the Grok token first emerged in 2023 when a scammer deployed an ERC-20 Grok token on Ethereum, which led to an over 90% drop after the deployer sold 0.5% of the total supply, according to blockchain data visualization platform, Bubblemaps<\/a>.<\/p>\n

\"CZ
Fake GROK ERFC-20 token crash, 2023. Source: <\/em>Bubblemaps<\/em><\/a>\u00a0<\/em><\/figcaption><\/figure>\n

Scammers often capitalize on the credibility of social media platforms, large brands, or celebrities like Elon Musk to cultivate a sense of trust with victims.<\/p>\n

Meta was the most mimicked brand in phishing reports filed throughout 2024, according to a report by email security provider Mailsuite.<\/p>\n

\"CZ
US brands are often impersonated by scammers. Source: <\/em>Mailsuite<\/em><\/a><\/figcaption><\/figure>\n

Coinbase was the most impersonated brand<\/a> by scammers in the crypto industry, but Meta was targeted by over 25 times as many scammers as the cryptocurrency exchange.<\/p>\n

Related: <\/strong><\/em>Bitcoin rally above $100K may follow US Treasury buybacks \u2014 Arthur Hayes<\/strong><\/em><\/a><\/p>\n

Elon Musk-related scams and fake coins see a resurgence<\/h2>\n

Elon Musk-related scams and fake tokens are seeing a resurgence as scammers continue vying for investors\u2019 crypto holdings.<\/p>\n

A fake announcement claiming to be an official \u201cAI Elon Musk stream\u201d giving away $20,000 worth of cryptocurrency was flagged<\/a> on April 14 by crypto recovery and security advocate, Denis Thomas.<\/p>\n

\"CZ
Source: Denis <\/em>Thomas\u00a0<\/em><\/a><\/figcaption><\/figure>\n

Multiple other Elon Musk-related memecoins were launched on the BNB Smart Chain in recent weeks, according to a scam detector platform, Coinspeedrun<\/a>.<\/p>\n

\"CZ
Source: <\/em>Coinspeedrun<\/em><\/a><\/figcaption><\/figure>\n

Phishing scams like address poisoning<\/a> involve tricking victims into sending assets to fraudulent wallet addresses.<\/p>\n

Phishing scams cost<\/a> the crypto industry over $1 billion across 296 incidents in 2024, making them a major threat, according to blockchain security firm CertiK.<\/p>\n