Suspected auction of Musk's old Instagram account, with bids reaching $6,000

ChainCatcher news, according to Protos, an Instagram account using the name of Elon Musk is currently being auctioned in a trading group on Telegram, with the highest bid at $6,000. The username of the account has been changed eight times, and the name currently displayed in the profile is "Tekk." The sale of the account has raised concerns that it may be used by the new owner to promote dubious meme coins.

Last year, millions of dollars worth of cryptocurrency were stolen after multiple X and Instagram accounts were hacked, including those of McDonald's, Usher, and Wiz Khalifa. Musk has not had an Instagram account since he deleted his in 2018, and it has been seven years since he last had an Instagram account.