Elon Musk's Neuralink Linked Mémcoin Token Scam Worth $80 Million
Elon Musk became the victim of a cryptocurrency scam worth $80 million when a mémcoin token called SLINK gained popularity, linked to his Neuralink company.
The scam began when Shivon Zilis's Twitter account was hacked, and a post was made that seemed to be from her. The post did not clearly state it was about a cryptocurrency project.
Ryan Tanaka, a podcaster who covers Neuralink, initially believed the post was real but later corrected himself after Elon Musk responded with an emoji, indicating he supported the project.
This led to a rapid increase in SLINK's price, which turned out to be a pump-and-dump scheme. When the true nature of the scam was revealed and Shivon's account was suspended, the mémcoin's market capitalization plummeted by over 95%.