The variety of bitcoin giveaway scams has been rising quickly amid rising costs of cryptocurrencies and deepening financial disaster worldwide. These scams declare that well-known persons are freely giving bitcoin, corresponding 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 freely giving bitcoin or different cryptocurrencies are on the rise as unemployment grows in the course of the coronavirus pandemic and ensuing financial crises. Movies that includes dwell interviews with Virgin Galactic Chairman Chamath Palihapitiya and a “5000 BTC Giveaway” have been often showing on Youtube. The movies clarify:
To take part you simply have to ship 0.1 BTC to 20 BTC to the contribution deal with and we’ll instantly ship you again 0.2 BTC to 40 BTC to the deal with 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 participate only once.” For instance, the scammers declare that should you ship 20 bitcoins, you’re going to get 40 bitcoins again.
Every video shows a bitcoin deal with and an URL of a web site containing extra data. “We believe that blockchain and bitcoin will make the world more fair and open. The current financial system is outdated,” the rip-off web site notes, claiming:
To hurry up the method of cryptocurrency mass adoption, now we have dedicated to a complete of 5,000 bitcoin to provide away.
The web site additionally has data on a “special bonus,” which states that “If you send 5+ BTC you will be airdropped 10+ BTC back + 50% bonus.”
Youtube has banned quite a few these rip-off movies however they nonetheless hold reappearing often. On the time of this writing, a minimum of 4 5000 BTC giveaway rip-off movies that includes Palihapitiya are listed on the Google-owned video-sharing platform.
Apart from well-known billionaire traders like Chamath Palihapitiya, celebrities and politicians have additionally been focused by cryptocurrency giveaway scams. Final week, there was the same bitcoin giveaway rip-off that featured former U.S. presidential candidate Michael Bloomberg. The billionaire media govt and former mayor of New York Metropolis dropped out of the race to change into the president of the USA on March 4. The faux Michael Bloomberg bitcoin giveaway video requested viewers to switch between 0.1 BTC and 250 BTC to the bitcoin deal with displayed on the display screen. Cryptocurrency exchanges and their CEOs have additionally been focused, corresponding to Coinbase and its CEO, Brian Armstrong.
Rip-off Web sites Declare Elon Musk Giving Away Bitcoin and Ethereum
One other in style individual usually featured by bitcoin scammers is Tesla CEO Elon Musk. An internet site mimicking the Medium publishing platform retains showing beneath completely different URLs. It claims to be the official Elon Musk BTC and ETH giveaway web site. Scammers promote the giveaway on varied social media platforms, corresponding to Twitter and Reddit. After a sure time frame, the identical website will relocate to a special URL and the earlier area title will not be reachable.
“Our marketing department here at Tesla HQ came up with an idea: to hold a special giveaway event for all crypto fans out there … If you want to participate, it is really simple to do,” the scammers wrote. “If you send in 5 BTC or 100 ETH, you will get the grand prize: a brand new Tesla Model S Performance with midnight silver metallic, solid black and red multi-coat exterior, delivery included. DM me on Twitter if you did that and we will organize the delivery as soon as possible.” The web site additionally offers two “official” hyperlinks for guests to get “free” bitcoin and ethereum.
Giveaways in bitcoin or different cryptocurrencies like those featured above are scams. Billionaire traders like Palihapitiya usually say good issues about bitcoin, together with advising folks to have 1% of their property within the cryptocurrency. Musk not too long ago instructed Harry Potter creator JK Rowling that bitcoin is “solid” in comparison with governments’ fiat cash. Nonetheless, none of them are freely giving any bitcoin or different cryptocurrencies. Be cautious of anybody promising to double any bitcoin you ship them as this setup is at all times a rip-off.
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