5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away Bitcoin

5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away Bitcoin

The variety of bitcoin giveaway scams has been growing quickly amid rising costs of cryptocurrencies and deepening financial disaster worldwide. These scams declare that well-known persons are gifting away bitcoin, equivalent to Virgin Galactic Chairman Chamath Palihapitiya, Tesla CEO Elon Musk, and U.S. presidential candidate Michael Bloomberg.

Bitcoin Giveaway Scams on the Rise

Bitcoin giveaway scams claiming that celebrities are gifting away bitcoin or different cryptocurrencies are on the rise as unemployment grows in the course of the coronavirus pandemic and ensuing financial crises. Videos that includes stay interviews with Virgin Galactic Chairman Chamath Palihapitiya and a “5000 BTC Giveaway” have been usually showing on Youtube. The movies clarify:

To take part you simply have to ship 0.1 BTC to 20 BTC to the contribution handle and we are going to instantly ship you again 0.2 BTC to 40 BTC to the handle you despatched it from.

The movies elaborate that the extra bitcoin you ship, the extra bitcoin you’re going to get again, emphasizing that “You can take part solely as soon as.” For instance, the scammers declare that when you ship 20 bitcoins, you’re going to get 40 bitcoins again.

5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away BitcoinA screenshot of a Youtube video that includes an interview with Virgin Galactic Chairman Chamath Palihapitiya and a 5000 BTC giveaway rip-off. The interview was truly a replay of the Coinsummit interview of Palihapitiya which occurred a number of years in the past.

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Each video shows a bitcoin handle and an URL of an internet site containing extra info. “We imagine that blockchain and bitcoin will make the world extra honest and open. The present monetary system is outdated,” the rip-off web site notes, claiming:

To velocity up the method of cryptocurrency mass adoption, we have now dedicated to a complete of 5,000 bitcoin to provide away.

The web site additionally has info on a “particular bonus,” which states that “If you ship 5+ BTC you’ll be airdropped 10+ BTC again + 50% bonus.”

Youtube has banned a lot of these rip-off movies however they nonetheless maintain reappearing usually. At the time of this writing, at the very least 4 5000 BTC giveaway rip-off movies that includes Palihapitiya are listed on the Google-owned video-sharing platform.

5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away BitcoinList of stay streaming movies on Youtube claiming that Virgin Galactic Chairman Chamath Palihapitiya is gifting away a complete of 5,000 bitcoins. However, it is a rip-off and anybody sending any bitcoin to the addresses displayed on the movies won’t ever obtain something in return.

Other than well-known billionaire buyers like Chamath Palihapitiya, celebrities and politicians have additionally been focused by cryptocurrency giveaway scams. Last week, there was an analogous bitcoin giveaway rip-off that featured former U.S. presidential candidate Michael Bloomberg. The billionaire media government and former mayor of New York City dropped out of the race to grow to be the president of the United States on March 4. The pretend Michael Bloomberg bitcoin giveaway video requested viewers to switch between 0.1 BTC and 250 BTC to the bitcoin handle displayed on the display. Cryptocurrency exchanges and their CEOs have additionally been focused, equivalent to Coinbase and its CEO, Brian Armstrong.

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Scam Websites Claim Elon Musk Giving Away Bitcoin and Ethereum

Another in style individual usually featured by bitcoin scammers is Tesla CEO Elon Musk. A web site mimicking the Medium publishing platform retains showing below completely different URLs. It claims to be the official Elon Musk BTC and ETH giveaway web site. Scammers promote the giveaway on numerous social media platforms, equivalent to Twitter and Reddit. After a sure time period, the identical website will relocate to a distinct URL and the earlier area identify will now not be reachable.

5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away BitcoinThis web site claims to be the official Elon Musk BTC and ETH giveaway web site, however it’s a rip-off because the Tesla CEO is just not gifting away bitcoin.

“Our advertising and marketing division right here at Tesla HQ got here up with an concept: to carry a particular giveaway occasion for all crypto followers on the market … If you need to take part, it’s actually easy to do,” the scammers wrote. “If you ship in 5 BTC or 100 ETH, you’re going to get the grand prize: a model new Tesla Model S Performance with midnight silver metallic, strong black and purple multi-coat exterior, supply included. DM me on Twitter when you did that and we are going to set up the supply as quickly as potential.” The web site additionally offers two “official” hyperlinks for guests to get “free” bitcoin and ethereum.

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Giveaways in bitcoin or different cryptocurrencies like those featured above are scams. Billionaire buyers like Palihapitiya usually say good issues about bitcoin, together with advising individuals to have 1% of their property within the cryptocurrency. Musk lately instructed Harry Potter writer JK Rowling that bitcoin is “strong” in comparison with governments’ fiat cash. However, none of them are gifting away any bitcoin or different cryptocurrencies. Be cautious of anybody promising to double any bitcoin you ship them as this setup is all the time a rip-off.

What do you consider bitcoin giveaway scams? Let us know within the feedback part under.

The put up 5000 BTC Giveaway Scam: Chamath Palihapitiya, Elon Musk Not Giving Away Bitcoin appeared first on Bitcoin News.


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