TikTok Rife with Fake Crypto Giveaways Scamming Users
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TikTok flooded with fake cryptocurrency giveaway scams impersonating Elon Musk, Tesla, SpaceX.
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Scams prompt users to register on fake crypto sites and enter promo codes shown in videos.
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Users must deposit crypto to "activate" account and withdraw fake deposited funds.
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Scams generate revenue by stealing user's activation deposits.
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Users also prompted to enter KYC info, enabling account breaches.