bitcoin scam

If you’ve come across any cryptocurrency deal on Twitter, WALK AWAY as a new scam is gaining momentum on the social media site that is tricking people to collect thousands of dollars worth cryptocurrency in the new bitcoin scam in less than a week.

How Does It Work

The scheme is very simple and transparent to anyone whois paying attention on the social media site. The scammers are making Twitter handles that closely resemble the verified accounts of famous people like Elon Musk, John McAfee, or Ethereum co-founder Vitalik Buterin. Afterward, they start a thread that claims to send a significant quantity of cryptocurrency (like 2 bitcoin) to anyone who sends a smaller amount of currency (like 0.02 bitcoin) to a particular wallet.

Logically speaking it may sound absurd to many that well-known figures have started to hand out bitcoins to the people but the promise of sending a little and receiving a lot more has blinded many to see past the bitcoin scam.

For instance, one wallet which was posted in a fraudulent John McAfee tweet promising 20 bitcoin for every 0.02 received, ended up collecting 0.184 bitcoin within hours. At current prices that’s about $1,500. Not a gold rush, but also not bad for a scam that takes so little effort.

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