Teslatrading is supposedly a new cryptocurrency venture established by, and affiliated with, Elon Musk and his Tesla company. The website announces the absurd claim that investors can make 4,000 euros a month! The company apparently has an advanced AI that monitors crypto exchange rates with 99.9% accuracy. This means that you won’t need to do anything — how convenient!

Unfortunately this is a scam — and a pretty obvious one at that. The website has nothing to do with Elon Musk or Tesla, with the scammers simply using them as a front. They are also employing the use of deepfake videos to make it appear as though Musk is endorsing the venture. Below is a screenshot of one such attempt — with the scammer himself excusing its poor quality!

If you fall for this scam and invest, when it comes to withdrawing your money you will be asked to pay a tax fee. Following that, you’ll then be asked to pay another service fee. More excuses will follow, with your access continuing to be blocked. In short, you’ll never get your money back.

On ScamAdviser, the website has a low “trust” score of 37/100. Meanwhile, other red flags include:

• The website was only just registered in August 2022 in Hongkong.
• There’s no privacy policy.
• The terms of service text is copied from another website.

To conclude, stay far away from Teslatrading. If you want to invest in cryptocurrency, stick with the big companies that have established reputations and plenty of user reviews.

Protect Yourself with Trend Micro ScamCheck 

• Double-check people’s contact details — and URLs.
• Reach out to official websites and support pages directly for help if in doubt.
• NEVER use links or buttons from unknown sources! Use  Trend Micro ScamCheck  to detect scams with ease: ScamCheck is an all-in-one browser extension and mobile app for detecting scams, phishing attacks, malware, and dangerous links — and it’s FREE!

Given you’ll be required to enter personal information on these kinds of platforms, ID Security will also ensure you’re never the victim of a data breach. Check out this page for more information on ScamCheck.

And as ever, if you’ve found this article an interesting and/or helpful read, please do SHARE it with friends and family to help keep the online community secure and protected.