Hackers Promote Distribution Of 10 000 Bitcoins Through Fake Elon Musk Accounts

  • Hackers Promote Distribution Of 10 000 Bitcoins Through Fake Elon Musk Accounts

Hackers Promote Distribution Of 10 000 Bitcoins Through Fake Elon Musk Accounts

Fashion firm Matalan, film distributor Pathe UK and Panthoen Books, a publishing house, were all hacked by scammers who proceeded to use promoted tweets to send their adverts out far and wide.

Tesla and SpaceX CEO Elon Musk is one of the most influential entrepreneurs in the world with a net worth of $22.3 billion as of 2018.

"On accounts that have large followers such as Pathé, the scammers have paid for a Twitter advertisement to promoted the tweet, resulting in Twitter showing the scam tweets as promoted posts".

There are other verified accounts which have been used by the hackers which have commented under the original "Elon Musk" tweet but with different names leading Twitter users to believe that this is legitimate. These accounts then took part in the Elon Musk scam by tweeting how the "giveaway" was already working for them.

Twitter accounts are verified with a blue tick, helping users spot whether accounts for well-known individuals and companies are genuine, and hackers appear to be exploiting that badge of authenticity to make scams more effective. Durov's tweet drew attention to fake crypto giveaway scammers who posed as the Telegram CEO and claimed to offer crypto to users as a "thank you for [their] support".

In October, Musk caused a stir in the cryptoverse upon tweeting out "Wanna buy some Bitcoin?" in a longer, meme-filled Twitter thread.

Musk's regular twitter use has also met its fair share of criticism, following incidents such as the Tesla founder accusing someone of being a pedophile and also commenting that a funding deal to take Tesla private had been made when the deal had not yet been finalized.

Twitter actually locked Musk's account for some time, believing it had actually been compromised.

Note that this is not the first case of hacking confirmed Twitter accounts. These fakes of the past, however, only used Musk's name and likeness.

Twitter says it is trying hard to combat these crypto-currency scams.

Twitter spokeswoman Liz Kelley told Quartz in an email, "In recent weeks, impressions have fallen by a multiple of 10 as we continue to invest in more proactive tools to detect spammy and malicious activity". One of them managed to raise $170 000.

However, this situation had reached its true climax when the real Elon Musk was suspended from his account for a brief time for mocking the fake account.

At the beginning of the year, the social media app, Twitter saw an influx of Charlie Lee impersonators.