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Bitcoin (BTC) Giveaway Scams Posted by Fake Elon Musks on Social Media Platform; Twitter

Numerous fake Elon Musk twitter accounts have been posting Bitcoin scams, while one of the accounts successfully generated $170,000 from the fraudulent activities.

Twitter is one of the leading social media platforms in the world where known personalities interact with the public on their profile. As we know, Elon Musk has previously showed interest in the world of cryptocurrency and has mentioned the growing industry on various occasions. Hence, hackers and social media scammers took advantage of the situation and succeeded in fooling the audience. Knowing a personality of the caliber of Mr. Elon Musk, it is hard to believe that a verified account by his name would play the public.

Multiple verified Twitter accounts were compromised by scammers as they were later edited to “Elon Musk” and set the same profile details as the official Elon Musk’s Twitter account. To further gain confidence of the Elon Musk followers, the fake accounts went on to interact with the public on posts by the official account of Elon Musk.

When the fake accounts received enough attention from the Twitter community, they claimed to conduct the biggest ever cryptocurrency related giveaway in the world and as unfortunate this is, the followers participated in the scam.

Given below is the screenshot of the claimed giveaway by a fake Elon Musk account:

The fake Twitter account claimed to give 10,000 “Bitcoic” (Bitcoin) to the participating audience and provided a participation link in the end which required personal and payment details in what was said to be the biggest crypto-related giveaway ever.

In order to avoid being blocked by Twitter due to impersonation and using fake identities, the scammers changed specific characters in the name, Elon Musk and wrote EIon Musk instead with a captial ‘i’. This does not catch the eye of the audience at first and the audience tends to believe that they are following the real Elon Musk.

What the scammers and hackers actually did was getting into official Twitter accounts that were verified by Twitter and then compromised them by changing their names. Few notable Twitter accounts that were compromised were film production firm, Pathe UK and US politician, Frank Pallone Jr.

The effected parties reacted to these hacks immediately came out to inform the public that the accounts were hacked. Politician Frank Pallone Jr.’s campaign identified these fraudulent activities as nothing more than what “just looks like a Bitcoin Scam”.

Many fell in the trap and participated in the fake giveaway competition in hopes to receive 10,000 bitcoins. While sources also confirmed that the scams started to actually receive money and initially received an approximate amount of $158,256 and the payments continued to add on as more followers participated in the fake giveaway. The latest amount received by the fake account was nearly 26.38 BTC worth $168,930.

Moreover, the other effected known official Twitter account, Pathe UK also confirmed that the account was hacked by scammers and the enterprise immediately deleted the fake tweets by the fake EIon Musk to avoid further loss of the participating community.

Previously, other popular Twitter personalities have also been similarly triggered by scammers. Founder and CEO of Telegram, an instant-messaging, cloud-based service also warned its followers that the instant-messaging service was going through a rough patch due to certain technical difficulties back in April. The confirmation by the CEO and Founder of Telegram, Pavel Durov on the ongoing fake claims of awarding cryptocurrencies to the public as a “thank you for support” immediately caught public attention which prevented followers from participating in such activities.

LiteCoin founder, “Charlie Lee” was also impersonated by scammers who used similar usernames to that of Charlie Lee’s. These scammers also claimed to conduct free LiteCoin giveaways to get noticed by the Twitter community.

Further, in order to prevent scammers from impersonation, Elon Musk reached out to the creator of DogeCoin (DOGE), Jackson Palmer for help. Elon Musk contacted Jackson Palmer to find ways to get rid of scammers on Twitter who promote fake giveaways by his name. Mr. Palmer offered Elon Musk his help by providing him a script that could help him combat the hackers and scammers.

Therefore, as these fraudulent activities are increasing with each passing day, known social media personalities and their followers must be more careful with their actions on social media platforms in order to avoid being affected by harmful consequences because one thing we know for sure is that the scammers won’t stop on their part.

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Jaudat Sulehri

A management student, sports enthusiast and a writer. Jaudat gives his insights on the cryptocurrency in the world of trade and blockchain technology in particular. He also holds investments in XRP and BCH. Email: jaudat@blockpublisher.com or contact the editor at editor.opinions@blockpublisher.com

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