The $500,000 scam: no, Elon Musk doesn’t give bitcoins!

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Prudence is the mother of caution – As Elon Musk shows a growing interest in digital assets, more and more scammers are posing as the entrepreneur to steal crypto-currencies. These scammers are hacking into verified Twitter accounts to add a layer of „legitimacy“ to their scams.

Nothing new under the sun
This type of scam is not new. We have been seeing this kind of practice for more than three years now. So much so that Vitalik Buterin changed his name on Twitter to prevent gullible crypto-enthusiasts from falling for it.

Vitalik Buterin Changed His Twitter Name to Avoid Scams Impersonating Him
After Vitalik, CZ and the Winkelwoss twins, it is now the turn of Elon Musk to be used to trick Twitter users into stealing their precious digital currency.

According to data compiled by Metamask, more than $500,000 worth of Bitcoin has been stolen over the past few weeks.

Bitcoin address Amount
BTC Amount
1cD2EEwxjVYqwP83Pah21PLnqD3PMJc6i 2.62081802 $103,238.22
1CZA6v4XzPQmC599WmSvbvsu2r8UEUbHi $0.44035153 $17,346.15
1MusK1HoQi7ULXJdodirUsHiZfyN7z5puP $1,00200,000 $39,470.38
1MUSK1Je69ucdgjgMrwHb7DR9YxgzEvSKQ 0.12708550 $5,006.10
16ShxhEXxzFyyEFeRkNbJDEHb3zuvTdSuH 10.64921182 $419,489.49
Addresses for Bitcoin scams
Twitter in the spotlight
The Bluebird Platform has garnered some headlines this year, but not the most glowing ones. In July, users were able to see Barack Obama, among others, praising the cryptomonnages following a massive hack of audited accounts.

Since July, Twitter no longer allows accounts to be verified to limit their misuse. However, this has not stopped the scammers of the 2021 class from hacking into already verified accounts to carry out their scams.

Since then, Twitter has come under a lot of criticism for its handling of fake accounts and scams. The crypto scams have been going strong for several years, without the network finding effective solutions to stem their proliferation.

This news comes at a bad time for Twitter, which was already the subject of criticism for its censorship of Donald Trump. The platform is therefore caught between its censorship of freedom of expression and its inability to curb dubious practices. If you care about your Bitcoins, remember the adage: if it’s too good to be true, it’s certainly not true.

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