CZ receives fake ‘Grok’ coins amid new wave of Elon Musk scam tokens
Scammers are exploiting the popularity of Elon Musk's AI chatbot Grok by distributing fake Grok (GROK) tokens, which are likely part of phishing attacks. A wallet associated with former Binance CEO Changpeng Zhao received 90 million fake tokens on April 21, as reported by blockchain security firm PeckShield. The Grok AI chatbot has no official cryptocurrency or plans to launch one. Fake tokens first appeared in 2023, leading to significant losses after the deployer sold a portion of the supply. Scammers often leverage the credibility of well-known figures and brands to deceive victims. In 2024, phishing scams resulted in over $1 billion in losses across 296 incidents, with Meta being the most impersonated brand and Coinbase being the most targeted in the crypto sector. Recent scams include a fake announcement of a cryptocurrency giveaway linked to Musk and the launch of multiple memecoins on the BNB Smart Chain.
