Elon Musk sued for staggering $258 billion over ‘dogecoin scam’ as Twitter deal remains pending

ELON Musk has been named in a $258 billion lawsuit alleging he participated in a cryptocurrency scam.

The lawsuit states that the plaintiff is suing for damages and losses incurred while trading the Dogecoin token.

Musk has yet to comment on the suit despite being active on Twitter

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Musk has yet to comment on the suit despite being active on Twitter

Court documents allege that Musk “engaged in a cryptographic pyramid scheme using a dogecoin cryptocurrency.”

Musk and his companies are deeply crypto-friendly – Tesla has already invested $1.5 billion in Bitcoin and said it will accept Dogecoin as payment at its Santa Monica supercharger station.

“Dogecoin is not a currency, stock or security. It is not backed by gold, any other precious metal or anything. You cannot eat it, farm it or wear it” , reads the court filing.

Earlier this week, the world’s richest man sent out a mysterious one-word tweet saying “Cryptonight.”

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