Don’t Be Fooled By This: Twitter Users to Beware of ‘Free Cryptocurrency’ Scams

Credit: Yurok Aleksandrovich | Dreamstime.com

A recent MailGuard report warns against cryptocurrency scams on Twitter.

The persistent rise of cryptocurrency is changing the internet in a variety of ways, and although its relatively early days there has already been some high profile cryptocurrency fraud incidents.

Over the last 12 months or so, there has been a growing number of crypto scams appearing on Twitter. Scammers tweet something like ‘Bitcoin giveaway’ or ‘free crypto’ and promise that if you send them a small fraction of a coin to verify your account, they will send back 10 times as much.

The scammers are impersonating the Twitter accounts of high profile cryptocurrency influencers to gain people’s trust. Crypto is a small world, but there are some well-known influencers and founders who have a lot of sway in the online community.

Recently, a scammer using the Twitter handle @lisa_jones4810 set up a hoax account mimicking Litecoin luminary Charlie Lee and started offering free coins. If you’re in the crypto-sphere, this is like someone impersonating Elon Musk and promising to send you a free Tesla if you put $50 in his bank account. It’s the same kind of phycological trickery that scammer use when they send out fake Netflix invoices; big names inspire trust.

A savvy self-styled ‘crypto hygienist’ going by @djbooth007 has made an ‘anti-bot bot’ which is now automatically replying to ‘free crypto’ tweets with a huge banner proclaiming ‘that tweet is a scam!’. New technology creates opportunities for criminals, but fortunately there are also cybercrime-fighters looking out for scams and fighting back.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags twittercryptocurrency

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Essentials

James Cook University - Master of Data Science Online Course

Learn more >

Mobile

Victorinox Werks Professional Executive 17 Laptop Case

Learn more >

Sansai 6-Outlet Power Board + 4-Port USB Charging Station

Learn more >

Exec

Budget

Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?