But now there is another reason to worry about DOGE: Scammers are capitalizing on increased interest in its actions in order to defraud people of cryptocurrency, according to the online protection company McAfee, which researches and monitors digital scams.

Elon Musk's latest tweet featuring a photoshopped image of himself wielding a chainsaw with "The Dogefather" in the background.

If Musk offers tax refunds in crypto, “it would be an extreme headache and ripe for potential fraud,” one expert said.