Published: Thu, November 08, 2018
Finance | By Loren Pratt

"Elon Musk" Crypto Scam May Have Snagged Dozens Of Bitcoin (BTC)

Cryptocurrency scammers have impersonated Tesla CEO Elon Musk, by hacking and compromising several verified Twitter accounts on November 5, 2018.

British retailer Matalan, film distributor Pathé United Kingdom and USA publisher Pantheon Books were just some of the accounts taken over by hackers.

By press time, the promotional tweet (which are paid for in an effort to reach a wider audience) had been removed, along with the profile image and name on the @pallonefornj account. All they have to do is send the amount of 0.1-2 BTC into a provided bitcoin wallet.

There are other verified accounts which have been used by the hackers which have commented under the original "Elon Musk" tweet but with different names leading Twitter users to believe that this is legitimate. When asked for comment on the issue, Twitter told the BBC that it "doesn't comment on individual accounts for privacy and security reasons".

Before the tweet was deleted, however, the hacker managed to claim several victims.

Elon Musk's fake account promises to distribute 10,000 BTC (64.1 million USD) for the users but they have to deposit the money first to "prove that they are serious".

Screenshot of compromised Pathe UK account.

Numerous scam tweets still contained the trademark of classic scams, odd grammatical structures, typos, and a request for money from the users before they can receive money themselves.

"On accounts that have large followers such as Pathé, the scammers have paid for a Twitter advertisement to promoted the tweet, resulting in Twitter showing the scam tweets as promoted posts".

For example, the above tweet would appear to have been praised by verified accounts like boxer Rayton Okwiri, blogger Sarah Scoop, and Swansea City AFC Ladies. "Notably, his account comes with an election label specifying that he is a U.S. House candidate for New Jersey, though his other verified handle, "@FrankPallone", remained untouched.

The hackers compromised several accounts including those of Frank Pallone Jr, a United States politician and Pathe U.K.

Scammers are back on Twitter impersonating their favorite celebrity, Elon Musk, in a bid to convince people to invest in their phony Bitcoin scheme.

Twitter has come under fire from cryptocurrency commentators once again after the social network began actively promoting an ongoing scam involving a Bitcoin giveaway.

Like this: