A new Bitcoin related scam has recently starting appearing on Twitter. Legitimate tweets of prominent business leaders such as Elon Musk, John McAfee or Vitalik Buterin, the founder of the cybercurrency Ethereum are responded to by cybercriminals with Twitter accounts that create the appearance that they are part of the thread started by the famous person.
In one of these scams presently circulating a thread started by Elon Musk using his Twitter handle of @elonmusk is responded to by someone using the handle of @ElonMsk, which also carries a photo of Elon Musk. Someone looking at it quickly may not recognize that it is not the Twitter handle of Elon Musk. The Tweet states, “I’m donating 20 Bitcoin to everyone who sends .02 to the address below. First 40 transactions with 0.02 BTC sent to the address below will each receive 0.5 BTC to the address the 0.02 BTC came from.”
People are falling for this scam and sending in the few Bitcoins in an attempt to receive more in return. Although Twitter is shutting down these scammers when they become aware of the scams, it takes little time for the scammers to start the scam again using the name of another celebrity.
TIPS
If it looks too good to be true, it usually is. This scam is really just another incarnation of the Nigerian email scam. No one is giving anyone 20 Bitcoins in return for .02 Bitcoins. Elon Musk, John McAffee, Vitalik Buterin and other well known people are not giving away Bitcoins in return for paying them fewer Bitcoins. Always look carefully at Twitter threads when responding.
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