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Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTC

Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTC

‘Elon Musk’ bitcoin giveaways proceed to rip-off folks on Youtube. Scammers have reportedly pulled in tens of millions of {dollars} in bitcoin from folks desirous to double their cryptocurrency. Some of them use bitcoin addresses containing the identify Elon Musk, Spacex, or Telsa. Before sending cash to a bitcoin tackle, examine if it has been reported as an tackle utilized by scammers.

Elon Musk Bitcoin Giveaway Scam

The variety of bitcoin scams utilizing the identify Elon Musk, Spacex, or Tesla has been rising. Videos selling a rip-off claiming that Elon Musk is freely giving 5,000 BTC or 10,000 BTC have been showing commonly on Youtube. News.Bitcoin.com not too long ago reported on this rip-off which asks folks to ship them bitcoin, promising to return twice as a lot BTC despatched instantly. The rip-off pulled folks in with an interview with Elon Musk and the current Spacex launch.

Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTCA Youtube video of an Elon Musk 5,000 BTC giveaway rip-off on June 20. The scammers declare that should you ship them some BTC, they’ll instantly return 2x as a lot as you despatched. The BTC tackle for this rip-off begins with “38vTggxwp…” However, some begin with variations of Elon’s identify.

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The CEO of cyber-security agency Adaptiv, Justin Lister, has been monitoring bitcoin despatched to vainness addresses containing names equivalent to Elon Musk, Telsa, or Spacex to advertise BTC giveaway scams over the previous month, Zdnet reported on Friday. Examples of such addresses are “1Musk…” or “1Elonmusk…”

He tracked down 66 addresses which were reported to Bitcoinabuse.com, a public database of bitcoin addresses utilized by hackers and criminals. Using his analysis and knowledge from the Bitcoin Abuse web site, the information outlet discovered {that a} whole of 214 BTC have been despatched to the Elon Musk vainness addresses, which is greater than $2 million on the present trade price. Since scammers don’t simply use vainness addresses, such because the one proven within the picture above, the entire quantity they’ve raked in from the sort of rip-off might be considerably greater than $2 million.

Elon Musk will not be the one celeb getting used to advertise faux bitcoin giveaways. Others which were used to advertise BTC scams embrace Amazon CEO Jeff Bezos, Microsoft founder Bill Gates, former Google CEO Eric Schmidt, Apple cofounder Steve Wozniak, Coinbase CEO Brian Armstrong, Epic Games CEO Tim Sweeney, FUBU CEO Daymond John, and Rich Dad Poor Dad writer Robert Kiyosaki.

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It is usually unwise to ship bitcoin to anybody claiming to double your BTC. If you come throughout a bitcoin rip-off tackle, you’ll be able to report it to Bitcoinabuse.com. The web site additionally enables you to examine whether or not a specific tackle has been reported as an tackle utilized by scammers, examine report historical past, and monitor stolen bitcoin.

Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTCThe Bitcoin Abuse web site exhibits that there have been 4,636 studies within the final month. Users can report or examine rip-off addresses in addition to observe stolen bitcoins.

At the time of this writing, the Bitcoin Abuse web site exhibits that there have been 115 studies within the final day, 680 studies within the final week, and 4,636 studies within the final month.

There can also be a brand new web site known as Scam Alert, launched on Friday by in style blockchain monitor Whale Alert. You can use the positioning examine if a sure bitcoin tackle has been reported as a rip-off tackle. The Scam Alert web site explains: “Our purpose is to make blockchain safer for everybody by monitoring and exposing criminals who abuse blockchain for unlawful actions.”

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What do you consider Elon Musk bitcoin giveaway scams making tens of millions? Let us know within the feedback part under.

The publish Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTC appeared first on Bitcoin News.

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