Crypto hackers use Elon Musks name to fleece Twitter users
Crypto hackers use Elon Musks name to fleece Twitter users
Major European film group hacked to promote Bitcoin scam on Twitter
08 November, 2018, 13:38
"I left the post of director of Tesla, thank you all for your suppoot!" the tweet reads. These hacked verified accounts offered live commentary on how the apparent scam was legit and working. The hacked verified accounts have entered the game only recently. Furthermore, the hacker also mentioned that Musk has left his post as the Director of Tesla, and made a decision to host this giveaway to provide thanks for his support.
Capitalizing on this change, the scammers issued a series of promoted tweets, claiming that them, or "Elon Musk", was giving away 10,000 "Bitcoic (BTC)", which would be valued at $65 million, subsequently beckoning the "community" to participate in the obvious swindle. Instead of greeting browsers with details of its upcoming movies, the account suddenly had the look of an official Elon Musk account.
To skirt Twitter security measures, scammers subtly changed one of the characters in the name, while still maintaining a display name that appeared to be "Elon Musk" at a glance, preculding Twitter from automatically flagging the account.
The hackers put up a fake tweet by Elon Musk proposing a scheme for multiplying the number of bitcoins sent by the users in exchange of a small amount of cryptocurrency sent to the desired wallet link. So far, the wallet has received more than 27 Bitcoin (around $180,000 USD) from the Pallone and Matalan accounts while the Pantheon one directed the users to a different address which received around $12,000 Dollars. That's despite some of the scams being laced with spelling errors and bad English.
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They then took advantage of the promoted tweets function that allows account holders to pay for tweets to appear prominently in people's Twitter feeds.
This account isn't even the only one that fell victim to hackers.
"Impersonating another individual to deceive users is a clear violation of the Twitter Rules".
"Twitter has also substantially improved how we tackle cryptocurrency scams on the platform. In the last week alone, user impressions have fallen by a multiple of 10, a significant improvement on previous action rates". "Notably, his account comes with an election label specifying that he is a U.S. House candidate for New Jersey, though his other verified handle, "@FrankPallone", remained untouched. However, the way in which accounts are regularly being compromised suggests that many users aren't adopting this additional layer of protection.
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