In my previous articles Top 10 successful scams active in 2020 and Common crypto Scams I elucidate some of the greatest master minds plan used by criminals to steal cryptocurrency from people. The scammers are getting more competent in their initiatives and becoming clever than ever.
There's a new trick deployed by scammers using Elon Musk name, that I mentioned in my article Common Crypto scams, and today I will explain how this trick effective works.
The Elon Musk Giveaway works greatly and can trick anyone even the ones who says that they're on the market a long time can fall on them, they are so sophisticated that are using even Vanity wallet addresses to steal more than $25 million until now from their victims!
1. Vanity addresses.
With this technique spotted by criminals with vanity crypto addresses victims feel that they are interacting directly with the entrepreneur Elon Musk, the really one CEO of Tesla and Space X but at the end are just sending money to scammers!
Vanity addresses include names, words, or even phrases with only intuition to trick anyone to think they are credible, and in the case they use the Elon Musk name!
It's a bit fun and some time intriguing how people fall on the scheme, that isn't new at all, at least the use of Elon Musk, which in 2018 scammers also impersonate users and stole BTC from them they promoted a fake giveaway using the entrepreneur name and at that time on twitter drew attention and caused concerns as it was using a Verified Twitter account!
This scammers are to be taken very serious and after they discovered the success of using Vanity addresses they won't stop and the numbers of BTC stolen have increase reaching astonishing millions of dollars.
A research made by a security Firm dubbed Adaptiv found that Vanity Crypto addresses used for the Elon Musk giveaway registered more than 201 unit of Bitcoins with more than 65 unique transaction for the address linked to the scheme only in April of 2020.
But anyone could be asking how this guys are having so much success with their scams?!
Well the Human mind is easily tricked and when they have the desire to earn easy and fast money become more easy to stole money from them, this desire to "get rich quick" schemes have been a good plate from scammers. A investigation that has been carried on by ZDNet have been shared across many social platform and YouTube is the preferred by scammers and they also use the platform to host live streams to broadcast the fraudulent business and using celebrities names adding vanity crypto addresses their have a great success!
Stay alert to spot this kind of giveaways: never trust no one with your money and always make research before investing, doesn't make sense a giveaway to ask money first to unlock your opportunity to make profit from it! Always interrogate yourself "why I must send money to participate in a giveaway"?
Stay safe and protect your money from scammers.
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