We regularly hear about a project called Tesla Coin (TES) in recent months. Is it a scam? Is it really a cryptocurrency? We take stock of this (very) shady project.
What is TeslaCoin (TES)?
If we consult the Tesla Coin site – at least one of the sites that seems to be linked to this name – we see that the definition of the project is not very clear. It is presented sometimes as a pure exchange platform, sometimes as a cryptocurrency ” which mimics the performance of Tesla stock“.
The first thing you notice is that the home page descriptions are made in very approximate French :
The home page of the Tesla Coin platform
We learn that Tesla Coin is supposed to be an online trading platform that would mitigate “the rigidity of digital currency trading“. Beyond this description, which smacks of automatic translation, other details are given below, in a style furiously reminiscent of online scams like Bitcoin Era for example:
The characteristics of the Tesla Coin platform, according to its site
First big problem: if you register, you are automatically redirected to another site, which has no connection with the name “Tesla Coin”. We land on a trading platform called “Enduring Markets”, which invites us to make a deposit. There is a list of assets and investment products, including cryptocurrencies and stocks in particular.
The Enduring Markets platform invites us to make a deposit
No other information is communicated, and the term “Tesla Coin” seems to have disappeared. Needless to say, it is therefore particularly suspicious. A search for the term “Enduring Markets” also shows that this exchange platform is hardly mentioned anywhereexcept on curiously rave sites.
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Tesla Coin: Particularly Suspicious Sales Arguments
If we go back to the Tesla Coin page, no mention is made of an exchange platform called Enduring Markets. At most, we are told about the gains that can be made… Or the lossesif we are to believe this unfortunate formulation:
Tesla Coin translation errors
There is also a paragraph who clears himself of any link with Elon Musk and the Tesla company:
Tesla Coin is not related to Elon Musk in any way
Needless to say, Elon Musk and his company Tesla have indeed nothing to do with this “project”. On some not very reputable sites that talk about the subject, it is specified that Elon Musk “allegedly backed and helped launch the Tesla Coin site“. This is of course completely false..
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A call from abroad with a “financial adviser”
But that’s not all: if you register on this pseudo trading platform, you are called back within minutes by a number from the United Kingdom. We picked up and found ourselves online with an “advisor” who praised the merits of the Tesla Coin platform to us :
“The platform provides passive income through an automated system, which amounts to 40% per month.»
The “advisor” explained to us that these substantial returns are possible with very little risk, thanks to the availability of a “personal financial expertwhich will be supposed to help us invest. We were also told about a trading robot that would allow us to automate our investments. Automated robot or personalized expert? We won’t be able to find out what “service” is being sold to us, the advisor doesn’t seem to know either.
We asked the person about the platform not being called Tesla Coin: she was very hesitant, kicking the bucket by promising us great returns on investment.
“You can ask your financial expert to work with the Tesla Coin cryptocurrency. »
We were then invited to make a deposit of a minimum of €250 on the platform. For this, we were asked for the address of our “crypto wallet“. We then cut the communication. the” advisethen tried to call us back multiple times, using different numbers.
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And the Tesla Coin (TES)?
If one consults several sites, it would seem that there was indeed a cryptocurrency called Tesla Coin (TES). Binance listed it at one time, as well as Coin360:
Unsurprisingly, it is a deadcoin, no information is available on the cryptocurrency. It is likely that it is not related to the platform presented in this article.
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Tesla Coin: scam or not?
The Tesla Coin therefore has all the markers of the scam. Unclear site, usurpation of the Tesla brand, call from a foreign number to push us to invest quickly… There is nothing to save from this experience, especially since we still do not know if we are being sold a trading robot, an exchange platform or a cryptocurrency.
Moreover, if we go for a walk on Google, we can clearly see that no serious site has written a glowing article on this platform. Hastily translated posts are available on some pages, but no media has actually published a real test, so watch out for those you can find here and there.
We will therefore obviously advise you to avoid Tesla Coin, which will not make you rich, contrary to what its “advisers” may claim. And we will also remember that if a project seems too good to be true, it is most likely a scam.
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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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