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Elon Musk Bitcoin Giveaway Rip-off Rakes in Thousands and thousands of {Dollars} in BTC

‘Elon Musk’ bitcoin giveaways proceed to rip-off individuals on Youtube. Scammers have reportedly pulled in hundreds of thousands of {dollars} in bitcoin from individuals desirous to double their cryptocurrency. A few of them use bitcoin addresses containing the identify Elon Musk, Spacex, or Telsa. Earlier than sending cash to a bitcoin handle, test if it has been reported as an handle utilized by scammers.

Elon Musk Bitcoin Giveaway Rip-off

The variety of bitcoin scams utilizing the identify Elon Musk, Spacex, or Tesla has been rising. Movies selling a rip-off claiming that Elon Musk is freely giving 5,000 BTC or 10,000 BTC have been showing repeatedly on Youtube. Information.Fintech Zoom just lately reported on this rip-off which asks individuals to ship them bitcoin, promising to return twice as a lot BTC despatched instantly. The rip-off pulled individuals in with an interview with Elon Musk and the latest Spacex launch.

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

The CEO of cyber-security agency Adaptiv, Justin Lister, has been monitoring bitcoin despatched to vainness addresses containing names similar 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. Utilizing his analysis and information from the Bitcoin Abuse web site, the information outlet discovered {that a} complete of 214 BTC have been despatched to the Elon Musk vainness addresses, which is greater than $2 million on the present exchange charge. 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 any such rip-off could possibly be considerably greater than $2 million.

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Elon Musk just isn’t the one celeb getting used to advertise faux bitcoin giveaways. Others which were used to advertise BTC scams embody Amazon CEO Jeff Bezos, Microsoft founder Invoice Gates, former Google CEO Eric Schmidt, Apple cofounder Steve Wozniak, Coinbase CEO Brian Armstrong, Epic Video games CEO Tim Sweeney, FUBU CEO Daymond John, and Wealthy Dad Poor Dad creator Robert Kiyosaki.

It’s usually unwise to ship bitcoin to anybody claiming to double your BTC. Should you come throughout a bitcoin rip-off handle, you’ll be able to report it to Bitcoinabuse.com. The positioning additionally enables you to test whether or not a selected handle has been reported as an handle utilized by scammers, test report historical past, and monitor stolen bitcoin.

Elon Musk Bitcoin Giveaway Scam Rakes in Millions of Dollars in BTC
The Bitcoin Abuse web site exhibits that there have been 4,636 reviews within the final month. Customers can report or test rip-off addresses in addition to monitor stolen bitcoins.

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

There’s additionally a brand new web site known as Rip-off Alert, launched on Friday by standard blockchain monitor Whale Alert. You need to use the positioning test if a sure bitcoin handle has been reported as a rip-off handle. The Rip-off Alert web site explains: “Our goal is to make blockchain safer for everyone by tracking and exposing criminals who abuse blockchain for illegal activities.”

What do you consider Elon Musk bitcoin giveaway scams making hundreds of thousands? Tell us within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Youtube, Bitcoinabuse.com

Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Fintech Zoom doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any injury or loss triggered or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.

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