Fake Elon Musk BitCoin Scam

Fake Elon Musk BitCoin Scam

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Updated Jul 21, 2020 at 02:05AM EDT by Y F.

Added Nov 07, 2018 at 01:26PM EST by Matt.

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Overview

The Fake Elon Musk BitCoin Scam refers to a series of tweets from hacked verified Twitter accounts with the handle changed to Elon Musk, the founder of tech and automotive company Tesla and aerospace company SpaceX. These tweets have since swindled more than $180,000 from users.

Background

On November 5th, 2018, Bleeping Computer[1] reported that a series of hacked Twitter accounts were being renamed "Elon Musk" and promoting tweets that encouraged users to join fraudulent giveaways. When users signed up for the giveaway, they would be asked to send "0.1 to 3" bitcoins to verify their address. The tweets read:

"I'm giving 10 000 Bitcoin (BTC) to all community!

"I left the post of director of Tesla, thank you all for your support!

"I decided to make the biggest crypto-giveaway in the world, for all my readers who use Bitcoin."


Elon Musk @PantheonBooks I'm giving 10 000 Bitcoin (BTC) to all community! I left the post of director of Tesla, thank you all for your support! I decided to make the biggest crypto giveaway in the world, for all my readers who use Bitcoin. Participate in giveaway - musk.plus Elon Musk To verify your address, send from 0.1 to 2 BTC to the address below and get from 1 to 20 BTC back Bout/dhesses with 0308TC or more sent, gets a kitiond +200%bok! Payment Address You can send BTC to the following address 1G4eW3wTNX3gafF8XVEBker9traEyrF4gm Promoted

Developments

According to the bitcoin transaction ledger, the scam pulled in 392 transactions in a single day, equalling more than $180,000 or 28 bitcoins (shown below, left).

Additionally, the scammers also hacked other verified accounts and that stated that the giveaway worked, hoping to give the hack corroboration (shown below, right).


Bitcoin Address 1KAGEL × ← シ C 쏠 secure l https://www.blockchain.com/btc/address/IKAGE12gtYVfizicQSDQmnPHYfA29bu8Da?offset= 350&filter=6 BLOCKCHAIN WALLET DATA API ABOUT Q BLOCK, HASH. TRANSACTION, ETC. GET A FREE WALLET Bitcoin Add ress Addresses are identifiers which you use to send bitcoins to another perso Summary Address 1KAGE12gtYVfizicQSDQmnPHYfA29bu8Da Hash c732b75b9d3d75f2ed267002bec9a94324c3fc46 Total Received 28.10388071 BTC Transactions No. Transactions 392 160 Final Balance 26.28342253 BTCh Request Payment Donation Button Transactions (Oldest First) Filter▼ 228868159de83886672a308c591a9869c79Dfa6a816776ac48ba019fa3caccoc 2018-11-05 09:33:51 bc1qtcfaq6qfhorg5x85zv69n5jlxg87mq2ql07pln 1KAGE12gtYVfizicQSDQmnPHYTA29bu8Da 0.00100214 BTC 79 ConfirmationS 0.00100214 BTC NDMA India@ndmaindia 1h Elon. you are the best person I have ever seen in my life! NDMA India @ndmaindia Follow Replying to @ndmaindia @MinTransporteCo @marathonartists I sent 0.30 BTC and got 6 BTC back! 3:12 PM- 5 Nov 2018

Online Reaction

Online, users complained about the hacked tweets, attempting to reach Twitter for help. Twitter user @JoshMLabelle tweeted,[2] "Hey, Twitter, "jack":/memes/people/jack-dorsey, you have now promoted 3 fake Elon Musk account bitcoin scams into my feed. How does this keep happening." Twitter [3] user @TweetieMcTweets tweeted a 16-part tweet storm about falling for the scam. They wrote, "So @TwitterSupport @jack I fell for the @elonmusk bitcoin scam today. Through hubris, I never thought I would be fooled such a scam. Beyond my own idiocy, there are a few component causes that laid me down that path that I'd like to raise @BBCNews @guardian @carolecadwalla" (respective tweet below, left and right).


Hey, @Twitter, @jack, you have now promoted 3 fake Elon Musk account bitcoin scams into my feed. How does this keep happening? Elon Musk@Matalan 36m I'm giving 10 000 Bitcoin (BTC) to all community! I left the post of director of Tesla, thank you all for your support! I decided to make the biggest crypto-giveaway in the world, for all my readers who use Bitcoin. Participate in giveaway mus So @TwitterSupport @jack I fell for the @elonmusk bitcoin scam today. Through hubris, I never thought I would be fooled such a scam. Beyond my own idiocy, there are a few component causes that laid me down that path that l'd like to raise @BBCNews @guardian @carolecadwalla 1/16

Twitter's Response

A Twitter spokesperson told Bleeping Computer:

"We don’t comment on individual accounts for privacy and security reasons. Impersonating another individual to deceive users is a clear violation of the Twitter Rules. Twitter has also substantially improved how we tackle cryptocurrency scams on the platform. In recent weeks, user impressions have fallen by a multiple of 10 in recent weeks as we continue to invest in more proactive tools to detect spammy and malicious activity. This is a significant improvement on previous action rates."

Media Coverage

Several media outlets covered the scam, including BBC,[4] The Daily Dot, [5] Business Insider[6] and more.

Search Interest

External References

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Recent Images 6 total


Top Comments

lightsideluc
lightsideluc

in reply to Electric Dictator Bedebao

That's a feature, not a defect, of scams. They don't want to attract savvy people, they want them to immediately dismiss the 'obvious' scam so they don't spend time trying to convince people who'll catch on. Instead they purposefully include misspellings and Engrish that less-observant (or intelligent) people won't notice or care about, acting as a sort of negative-gatekeeping.

+28

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