The claim amounts to 258 billion US dollars, and Musk's "dog coin pyramid scheme" lawsuit expands.

Beijing, September 8 (Xinhua) Elon Musk was previously charged with "pyramid selling of dog coins", with the victim claiming 258 billion US dollars (about 1.73 trillion yuan). Recently, there have been new developments in the case, with the addition of seven new investor plaintiffs and six new defendants, including his tunnel company Boring.

According to a complaint filed in federal court in Manhattan on Tuesday night local time, Musk, his company Tesla, space exploration technology company SpaceX and tunnel company Boring are suspected of deliberately pushing up the price of dog coins by more than 36000% within two years, causing them to fall sharply after speculating high prices, market capitalization and trading volume, leaving investors wiped out.

By doing so, the defendant "made tens of billions of dollars" at the expense of other dog money investors, and that Musk and others always knew that the currency lacked intrinsic value and that its value "depends entirely on marketing," the complaint said.

Musk's company was involved because the defendant believed that Tesla allowed the use of dog coins to purchase some derivative products, and SpaceX also named a satellite after dog coins.

As of press time, Tesla, SpaceX and Boring had no immediate comment on Wednesday. Tesla disbanded his media relations department in 2020.

It is understood that the dog coin is a virtual currency marked with the head of a firewood dog, which was born in 2013. Musk has tweeted promises that SpaceX will "put a real dog coin on the real moon" and so on.