Key Point

• Elon Musk allegedly sold $124 million in DOGE shortly after changing the Twitter logo to the Dogecoin logo in April

Ladies and Gentlemen of ParadiseClub, shortly after reclaiming the position of the world’s richest person by Forbes, the self-acclaimed DOGE Father Elon Musk has been accused of insider trading per lawsuits by a group of crypto investors.

According to the filing, Mr. Musk used Twitter posts, influencers, and his appearance on NBC back in 2021 to make a lot of money through DOGE in a wallet he and Tesla is holding.

Mr. Musk, shortly after replacing the Twitter logo with Dogecoin’s Shiba Inu dog logo in April, influenced the price of DOGE to skyrocket by 30% and allegedly sold Dogecoin worth $124 million.

A “deliberate course of carnival barking, market manipulation, and insider trading” saw Mr. Musk ripping off DOGE investors.

Meanwhile, Alex Spiro, the lawyer of Tesla and Twitter CEO, refused to respond to Reuters comment.

Recall that in mid-2022, MyCryptoParadise reported that Tesla CEO was sued for an alleged pyramid scheme using Dogecoin; the latest lawsuit is an amendment to the 2022 suit.

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