Elon Musk Doubling Scam Julie Bushnell
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Julie Bushnell, a teacher from Brighton, fell victim to a Bitcoin scam that cost her £9,000. The scam used the name of entrepreneur Elon Musk and a fake BBC website, claiming that Musk would double any Bitcoin deposit. Ms. Bushnell, an investor in cryptocurrency, transferred £9,000 to the scammers in the hope of doubling her money. However, she received no reciprocal payment and realized she had been scammed. The incident has left her feeling ashamed and embarrassed, as she had saved the money for a new home deposit. She reported the crime to the police and Action Fraud, and she aims to raise awareness about such scams to prevent others from becoming victims.
This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.[1][2]
About None
"Julie Bushnell said she felt ashamed and embarrassed after falling for a Bitcoin fraud that cost her £9,000.
It used the name of entrepreneur Elon Musk and a story on a fake BBC website suggesting she could double her money in a giveaway of the cryptocurrency.
The Brighton teacher said: "I think about it every minute of every day."
Ms Bushnell, an investor in cryptocurrency, spotted an item on a website that appeared to use BBC News branding, claiming Mr Musk, the billionaire boss of the Tesla car firm, would pay back double the sum of any Bitcoin deposit.
She paid £9,000, which she had saved for a deposit on a new home. When no reciprocal payment arrived it dawned on her that she had become the victim of a scam.
She said: "It has affected me massively. I wish I could have that time back - go in a time machine and not make those couple of clicks."
"Ms Bushnell, who has reported the crime to Sussex Police and Action Fraud, added: "They have robbed me of my dignity, self-respect, self-worth and strength. They have sucked all the goodness of life out of me.
"I want to raise awareness of this scam so it doesn't happen to other vulnerable people."
This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
Include:
- Known history of when and how the service was started.
- What problems does the company or service claim to solve?
- What marketing materials were used by the firm or business?
- Audits performed, and excerpts that may have been included.
- Business registration documents shown (fake or legitimate).
- How were people recruited to participate?
- Public warnings and announcements prior to the event.
Don't Include:
- Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
- Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.
The Reality
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- When the service was actually started (if different than the "official story").
- Who actually ran a service and their own personal history.
- How the service was structured behind the scenes. (For example, there was no "trading bot".)
- Details of what audits reported and how vulnerabilities were missed during auditing.
What Happened
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
| Date | Event | Description |
|---|---|---|
| May 13th, 2021 8:59:28 AM MDT | BBC News Article | An article is published in the BBC. |
| May 14th, 2021 7:04:56 AM MDT | Newsweek Article | The incident is shared through Newsweek. |
Technical Details
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?
Total Amount Lost
The total amount lost has been estimated at $11,000 USD.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Immediate Reactions
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?
Ultimate Outcome
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?
Total Amount Recovered
There do not appear to have been any funds recovered in this case.
What funds were recovered? What funds were reimbursed for those affected users?
Ongoing Developments
What parts of this case are still remaining to be concluded?
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.