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

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags twittercryptocurrency

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

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

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.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?