Ross Gerber says X account was hacked to promote Tesla scam coin: Prominent investor says ‘it could have been an insider’s work’

Senior investor Ross Gerber It was revealed on Sunday that his X account was hacked by “sophisticated” cryptocurrency scammers to promote tokens related to the automotive giant Tesla.

what happened:Gerber, CEO Gerber Kawasaki Wealth and Investment Managementthanks to the X team, especially the CEO Linda Yaccarinofor quick resolution. Gerber told Benzinga via email that it would take 30 minutes to restore the account.

“Given that this was a Tesla crypto scam coin, I was specifically targeted in this attack,” Gerber revealed, clarifying that he does not promote cryptocurrencies other than Bitcoin to his clients.

Gerber, an early investor in the Elon Musk-led giant, has significantly reduced his fund’s stake in the company since November and issued a six-month ultimatum to Tesla , calling for improvements in its performance before potentially exiting the stock entirely.

“This could be an inside job at X; not sure if they’re looking into it,” Gerber said, casting doubt on the social media giant, which is also controlled by Musk.

X did not immediately respond to Benzinga’s request for comment.

See: Elon Musk’s DOGE unit reportedly eyeing blockchain to cut federal spending – Justin Sun says Tron is a good option

why it’s important: Gerber’s hack comes a month after he himself warned of such possibilities.

Gerber issued a warning to investors in December about the possibility of fraud in the cryptocurrency market, especially except Bitcoin Bitcoin/USD. He noted that appointing crypto-friendly individuals in Donald Trump’s administration would not necessarily protect retail investors from scams.

The Gerber incident follows a recent case Ivanka Trump Publicly refusing to promote fake cryptocurrencies in her name.

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Disclaimer: This content was produced in part with help from Benzinga Neuro, and is reviewed and published by Benzinga editors.