People with a keen eye may have noticed a growing trend with some channels in Youtube announcing either a 'Elon Musk Bitcoin giveaway' or 'Vitalik Buterin Ethereum giveaway' enticing people in which they offer to send double the amount of cryptocurrency (BTC) if they agree to take part in the scheme.

The very recent Elon Musk giveway scam was claiming a giveaway of 5000 to 10000 BTC by the billionaire. Basically what the donor has to do is send some BTC to the address mentioned in the live video stream and immediately Spacex or Tesla the company owned by Elon Musk will gift double the amount to that sender!

Such fake giveaways are live-streamed by scammers who hack youtube channels and influence viewers with the Spacex launch interview of Elon Musk. The video presentation is so professional that people fall for it.

In the past many such scam giveaways were promoted using high profile names of biz men including Microsoft founder Bill Gates, Jeff Bezos, Amazon CEO,and Brian Armstrong, Coinbase CEO among others.

Previously Twitter accounts were compromised with Scammers hijacking verified Twitter accounts. High profile accounts were targeted like that of Donald Trump, John Mcafee & Bill Gates. Elon Musk has been the most favored impersonation victims for the scamsters used unrelentingly for Youtube and Twitter!

The sad part is many have fallen victims to these scams.The Spacex episode nearly raked in about USD 2 million worth of Bitcoins for these scamsters!

Requesting readers not to fall in the trap of such scams and always remember the wise words of a certain Vitalik Buterin :-

Thanks for reading!