The cryptocurrency scammers had earned a minimum of $145,000 this week through promoting fake giveaways using hacked verified Twitter accounts, causing massive Twitter scam.
Last month it had been reported that an increasing trend had been spotted where verified Twitter accounts had been hacked for promoting the fake cryptocurrency giveaways. During that time, the series of a Twitter scam pulled in a humongous $580,000 in cryptocurrency over a period of one week.
The attackers usually target the verified account bearing thousands of followers, if not millions. The scammers post fake giveaways due to a Twitter scam from the Twitter handle of well-known personalities or companies such as Tesla, Elon Musk, and Gemini Exchange. The more recent incidents involved the giveaway scam via the Twitter handle of Social Capital and Chamath Palihapitiya.
It is common to see that when tweeting the giveaway scams, the sock puppets on Twitter had been communicating with each other when they were promoting each other’s Twitter scam posts. However, embedded in the Tweets are links to the websites that redirect to other websites posing as Medium posts promoting the giveaway. The redirected websites contain links to the actual giveaway sites.
All of these websites ask the visitors to send cryptocurrency to the given crypto addresses and claims that the site will refund double the amount of the deposited cryptocurrencies. Unfortunately, people fall for these scams despite repeated warnings.
The MalwareHunterTeam responsible for monitoring these scams had revealed that the fraudsters continue to hack the verified Twitter handles with no sign of giving up. MalwareHunterTeam has shared some examples from a list that determines that the scammers had made at the minimum $145,000 this week. Itself. These earnings comprise 1.49094148 bitcoin (BTC), with the day’s high prices equaling $70,382.16.
|Bitcoin Address||Amount In BTC||Amount In USD|
The Twitter scam involving Ethereum earned the scammers $51,758.61.
|Ethereum Address||Amount In ETH||Amount In USD|
Dogecoin, the latest entrant in the crypto giveaways, generated $26,004.94.
|Dogecoin Address||Amount In Doge (XDG)||Amount In USD|
Since most of the websites associated with the Twitter scam shifts to different URLs and crypto addresses, the scammers have probably made much more this week. The exciting fact states that these scams generate an incredible amount of money for the fraudsters, which results in the more extended stay of the giveaways.
Thus, people need to understand that the majority of the crypto giveaways are scams. It is essential to treat any of the crypto giveaways spotted online as scams and realize that anything you send will have zero returns.
Source: Bleeping Computer
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