No, Elon Musk isn’t asking you to invest in Twitter – it’s a scam

If you come across a website or a YouTube video, in which Elon Musk, or Twitter founder Jack Dorsey, “promotes” a cryptocurrency system in which you will double your investment in one day – know that it is a scam, that both tech entrepreneurs/celebrities do not promote such schemes, and that if you send any of your crypto to the promoted wallets, you will never see it again.

McAfee cybersecurity experts have uncovered a simple yet elaborate scheme that has so far yielded over $1.3 million in various cryptocurrencies for schemers. The system does not use any malware, but instead preys on gullible cryptocurrency investors.

The whole thing is simple and involves promoting the program via an edited version of an old live cryptocurrency panel discussion with Elon Musk, Jack Dorsey and Cathie Wood at “The ₿ Word” conference. of Ark Invest.

Abuse of YouTube

Victims are promised double the investment if they send their cryptos to specific addresses. McAfee found over 26 websites promoting the scam, further claiming the number is likely higher. The websites appear to display a list of addresses participating in the program, as well as funds sent and funds received, to add credibility to the whole thing. However, the researchers discovered that the scammers were actually using JavaScript code to generate a random list of cryptocurrency wallets and the amounts paid.

Fraudsters also abuse YouTube to promote the scam. In its investigation, BleepingComputer found nine channels, some with up to one million subscribers. The numbers seem fake though, as these videos don’t have any content other than the video promoting the scam.

The identities of Elon Musk and Jack Dorsey are often misused to promote various cryptocurrency scams, mainly because Musk’s Tesla accepts bitcoin for payment at some point, as well as Dorsey’s outspoken support for the technology nascent.

However, they have never participated in giveaways, airdrops, crypto programs, or anything similar, and probably never will.

Via: BleepingComputer

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