Hackers Impersonate Musk on Twitter in Latest Crypto Scams

A few verified Twitter accounts, including ones that belong to a lawmaker in the US, a book publisher, and a film company as well have been hacked so as to impersonate the founder of Tesla and SpaceX, Elon Musk.


Send a Small Amount to Receive a Large Amount

The hacked accounts were all part of a popular scheme known as a giveaway scam in which users are promised a large amount of BTC if they start first by sending a small amount. In order to emphasize the authenticity of the hacked accounts and show that they actually belong by Musk, his profile picture was copied and also a few of his tweets were retweeted. The tweet mentioning the giveaway was also pinned by some of the hacked accounts.

The announcements urged users to send from 0.1 to 3 BTC to a mentioned wallet to verify their identity and they should receive an amount in the range of 1 to 20 BTC. Some users who knew this to be a scam tried to warn other users about such attempts to steal cryptos. Among the most famous example of victims to such a scam is Frank Pallone Jr., a representative of the Democratic state for the 6th district of New Jersey.

One of his verified campaign handles was hacked and later official sources for the campaign verified that it indeed had been compromised and Twitter started an investigation. The tweet from Pallone Jr.’s account was the exact same one that was posted in the account for Pathé Film, which promises 1 to 20 BTC in return for a fee of 0.1 to 3 BTC  to start with for users to verify themselves. The scam was noticed by the crypto industry yet again. The tweet has since been removed.

In a similar fashion, the official Twitter account of the English chain for clothing and homeware, Matalan, was also compromised and had the same message tweeted, it was then retweeted more than 700 times and liked more than 3000 times.

Elon Musk Name Causing Trouble on Twitter

Furthermore, this isn’t the first time a hack used more than one of Musk's account to promote cryptocurrency giveaway scams. The problem has turned into a very serious issue that made Twitter take action and start freezing any account on the platform that changes its display name to the words Elon Musk.

Messages on the Pallone and also Matalan accounts guided users to one address, which received a total of 35 BTC or $161,380 from 326 different transactions. Moreover, the account for Pantheon guided users to another address, in which $12,000 worth of BTC were sent in two and a half hours and Pantheon UK received about $2,500.

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