Elon Musk X crypto scam alert

By: bitcoin ethereum news|2025/05/02 21:45:02

⚈ Scammers are pushing fake Grok meme coins by falsely linking them to Elon Musk. ⚈ Fraudsters also impersonated the Tate brothers in a DADDY coin dinner scam. ⚈ Despite rising fraud, some traders profit from volatile meme coin surges. During the first quarter (Q1) of 2025, cryptocurrency traders lost more than $1.7 billion in various digital asset hacks and attacks, per Finbold’s Q1 crypto market report, with an untold amount stolen via fraud and scams. One deception that has been growing increasingly common since the start of the year is the numerous meme coins paying homage to xAI’s Grok artificial intelligence (AI) model. While there is nothing wrong with basing an altcoin on an AI platform inspired by The Hitchhiker’s Guide to the Galaxy, the name’s newfound association with billionaire Elon Musk has given rise to a shady marketing practice. The Grok meme coin scam Scammers are flooding the social media platform X, as well as other online spaces frequented by cryptocurrency traders, claiming that the South African-Canadian billionaire is himself behind the project. Some such promotions have also appeared on the popular digital asset quote and social network CoinMarketCap, with pages for the many Grok-inspired tokens populated by comments such as ‘$GROK ALWAYS WITH ELON. DONT MISS IT.’ However, unlike with X posts, which attempt to convince unsuspecting readers to click on dubious links, it is uncertain if the comments left on platforms such as CoinMarketCap are left by scammers, or ‘bag-holders’ hoping to pump a meme coin they purchased in hopes of making a quick buck. Elsewhere, though not necessarily a full-blown scam, the sheer number of ‘shitcoins’ bearing the name Grok in one variant or another is highly indicative that the teams or individuals behind them are trying to earn money by misleading traders. Tate brothers become the latest misused face in a crypto scam Crypto scams on social media are not confined to falsely presenting themselves as Elon Musk. At the start of May, a page pretending that the Tate brothers are organizing a dinner event for the top holders of the Daddy Tate (DADDY) meme coin also emerged. The swindle is inspired by President Donald Trump’s recent decision to invite the top holders of the Official Trump (TRUMP)—a cryptocurrency launched shortly ahead of the inauguration—to dinner with him. Are crypto fraudsters losing their technological edge? Interestingly, the 2025 deluge of accounts pretending they found Elon Musk’s—or other celebrities’—exclusive cryptocurrency advice or airdrops appears to indicate a drop in sophistication among scammers. Despite AI video generation becoming significantly more advanced, fraudsters have given up on their earlier attempts to make full-blown fake videos in which a digitally-generated celebrity issues a false call to action. As Finbold reported at the time, such a type of scam was especially common in late 2023, with Rippe Labs’ CEO Brad Garlinghouse being the go-to individual to abuse. A bright spot in the Grok invasion Interestingly, despite meme coins banking on brand recognition of unrelated works being dubious and highly convenient for scammers, legitimate cryptocurrency swing and day traders have been known to execute successful swaps. The latest example came in the night between April 30 and May 1, when one digital assets investor turned $1,500 into nearly $300,000 within just five hours using an amorally-named New XAI gork (GORK). Featured image via Shutterstock Source: https://finbold.com/elon-musk-x-crypto-scam-alert/

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins