‘Elon Musk’s New Electricity Saving Invention’ Scam Exposed

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Written by: Stelian Pilici

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Elon Musk is one of the most influential and innovative entrepreneurs of our time. He is the founder and CEO of SpaceX, Tesla, Neuralink, and The Boring Company. He is also a visionary who wants to make humanity a multi-planetary species, revolutionize transportation, and solve global problems.

However, his fame and popularity also make him a target for scammers who want to exploit his name and reputation to sell fake or low-quality products. One of the most common scams that use Musk’s name is the “Elon Musk’s New Electricity Saving Invention” scam, which claims that he has invented or endorsed a device that can reduce your electric bill by up to 90%.

In this blog post, we will expose this scam and explain how it works, how to avoid it, and what to do if you have fallen victim to it.

Elon Musk's New Electricity Saving Invention cam

What is the “Elon Musk’s New Electricity Saving Invention” scam?

The “Elon Musk’s New Electricity Saving Invention” scam is a type of online fraud that uses fake news articles and websites that look like reputable sources such as Fox News or CNN. These articles and websites claim that Elon Musk has created or endorsed a device that can save you tons of money on your electric bill by optimizing your power consumption.

The device is usually called Esaver Watt, StopWatt, RealWatt, or something similar. It is supposed to be a plug-and-play device that you can connect to any socket in your home or office and enjoy instant savings. The articles and websites also feature fake testimonials from satisfied customers who claim that they have saved hundreds or thousands of dollars thanks to the device.

Real Watt Scam 2 1

The articles and websites also include a link or a button that directs you to a website where you can order the device for a discounted price. However, this is where the scam begins. If you click on the link or the button, you will be taken to a website that looks like an official product page, but is actually a phishing site that will try to steal your personal and financial information.

How does the “Elon Musk’s New Electricity Saving Invention” scam work?

The “Elon Musk’s New Electricity Saving Invention” scam works by using social engineering techniques to trick you into believing that you are getting a great deal on a legitimate product that has been endorsed by a famous and trustworthy person. The scammers use fake news articles and websites that mimic reputable sources to create a sense of credibility and urgency. They also use fake testimonials and reviews to create a sense of social proof and popularity.

The scammers then lure you into clicking on a link or a button that takes you to a phishing site where they will ask you for your personal and financial information such as your name, address, phone number, email address, credit card number, expiration date, CVV code, etc. They may also ask you for other information such as your social security number, bank account number, etc.

The scammers will then use this information to charge your credit card for the device and other hidden fees or subscriptions. They may also use this information to commit identity theft or other fraudulent activities. The device that you receive (if you receive anything at all) will be either fake or low-quality and will not work as advertised. It may even damage your appliances or cause electrical hazards.

What to do if you have fallen victim to the “Elon Musk’s New Electricity Saving Invention” scam?

If you have fallen victim to the “Elon Musk’s New Electricity Saving Invention” scam, you should take the following steps as soon as possible:

  • Contact your bank or credit card company and report the fraudulent transaction. Ask them to cancel your card and issue a new one. Also, ask them to dispute any charges or fees that were made by the scammers.
  • Contact the Federal Trade Commission (FTC) and file a complaint online at https://reportfraud.ftc.gov/ or by calling 1-877-FTC-HELP (1-877-382-4357). The FTC can help you recover your money and protect your identity.
  • Warn your friends and family about the scam and share this blog post with them.
  • Delete any emails, messages, or calls from the scammers, and do not click on any links or attachments they send you.
  • Scan your computer or device for malware or viruses that may have been installed by scammers. You can run a free scan with Malwarebytes Anti-Malware Free.

Conclusion

The ‘Elon Musk’s New Electricity Saving Invention’ scam is a common and dangerous scam that uses his name and fame to sell fake products that do not work and can harm you. Do not fall for this scam and do not buy any energy-saving devices that claim to have his endorsement or invention. Always do your research before buying anything online and check the credibility of the sources, reviews, and testimonials. Remember, if something sounds too good to be true, it probably is.

How to Stay Safe Online

Here are 10 basic security tips to help you avoid malware and protect your device:

  1. Use a good antivirus and keep it up-to-date.

    Shield Guide

    It's essential to use a good quality antivirus and keep it up-to-date to stay ahead of the latest cyber threats. We are huge fans of Malwarebytes Premium and use it on all of our devices, including Windows and Mac computers as well as our mobile devices. Malwarebytes sits beside your traditional antivirus, filling in any gaps in its defenses, and providing extra protection against sneakier security threats.

  2. Keep software and operating systems up-to-date.

    updates-guide

    Keep your operating system and apps up to date. Whenever an update is released for your device, download and install it right away. These updates often include security fixes, vulnerability patches, and other necessary maintenance.

  3. Be careful when installing programs and apps.

    install guide

    Pay close attention to installation screens and license agreements when installing software. Custom or advanced installation options will often disclose any third-party software that is also being installed. Take great care in every stage of the process and make sure you know what it is you're agreeing to before you click "Next."

  4. Install an ad blocker.

    Ad Blocker

    Use a browser-based content blocker, like AdGuard. Content blockers help stop malicious ads, Trojans, phishing, and other undesirable content that an antivirus product alone may not stop.

  5. Be careful what you download.

    Trojan Horse

    A top goal of cybercriminals is to trick you into downloading malware—programs or apps that carry malware or try to steal information. This malware can be disguised as an app: anything from a popular game to something that checks traffic or the weather.

  6. Be alert for people trying to trick you.

    warning sign

    Whether it's your email, phone, messenger, or other applications, always be alert and on guard for someone trying to trick you into clicking on links or replying to messages. Remember that it's easy to spoof phone numbers, so a familiar name or number doesn't make messages more trustworthy.

  7. Back up your data.

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    Back up your data frequently and check that your backup data can be restored. You can do this manually on an external HDD/USB stick, or automatically using backup software. This is also the best way to counter ransomware. Never connect the backup drive to a computer if you suspect that the computer is infected with malware.

  8. Choose strong passwords.

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    Use strong and unique passwords for each of your accounts. Avoid using personal information or easily guessable words in your passwords. Enable two-factor authentication (2FA) on your accounts whenever possible.

  9. Be careful where you click.

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    Be cautious when clicking on links or downloading attachments from unknown sources. These could potentially contain malware or phishing scams.

  10. Don't use pirated software.

    Shady Guide

    Avoid using Peer-to-Peer (P2P) file-sharing programs, keygens, cracks, and other pirated software that can often compromise your data, privacy, or both.

To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.

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