November 17, 2018

Fake Elon Musk scam spreads after accounts hacked

08 November 2018, 01:40 | Hattie Nash

Fake ‘Elon Musk’ Ran Bitcoin Scam Through Film Company’s Hacked Account

Major European film group hacked to promote Bitcoin scam on Twitter

On Tuesday, a series of verified Twitter accounts were hacked and retooled into fake Elon Musk accounts, whereupon they launched bitcoin giveaway scams that nabbed more than $100,000 United States dollars worth of bitcoin from victims fooled by promises of massive returns from the fake Musk accounts.

Each of the compromised accounts engaged in a well-known crypto giveaway scam by promising to send large amounts of bitcoin to any users who sent them small amounts first.

The tweets have since been deleted with many accounts recovered, though some were left blank while waiting for their owners to re-enter their name and profile picture.

Meanwhile, Matalan has also regained control of its account, telling users: "Apologies for the brief interlude".

As the link claimed, it was necessary to confirm your wallet address to participate.

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The victims include the U. S. Democratic state representative Frank Pallone Jr and Pantheon Books.

What's your take? How should Twitter handle bitcoin scams on its platform? Hence the result is a verified Elon Musk luring normal Twitter users into suspicious schemes.

Daily Beast reporter Lachlan Markay reported that sources familiar with the campaign had confirmed the account was compromised and Twitter was investigating. This was once again caught by people in crypto-industry.

While Twitter impersonation scams occurred in the past, the hacker managed to promote the Musk impersonation tweet through Twitter's advertising service.

Elon Musk is certainly no stranger to Twitter controversies. However, the profile of Pathe UK linked to a wallet that received $2,500 Dollars with the scam.The tweet received 850 RTs and 3,700 likes.

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World's second oldest operating film company- Pathe's Twitter account (which has 20,000 followers and is blue tick-certified) has been hacked.

As reported earlier this month, this not the first case of multiple "Musks" promoting crypto giveaway scams.

A similar scan was detected in March of this year when Musk's name was used on fake Twitter accounts to ask for Bitcoin.

The bitcoin wallets associated with the scam suggest the campaign has been successful for the attackers, with nearly 400 users contributing a combined total of 28 bitcoin to the cryptocurrency wallets - now the equivalent of £137,000 ($180,000).

The hacked accounts called bitcoin "Bitcoic" and thank users for their "suppoot".

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At press time, the scammer's or scammers' address had received in excess of 28 bitcoin.

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