Crooks are consistently engaged in scamming people, while newcomers do not comprehend or do any research to safeguard themselves from crypto fraud.
According to the Whale Alert bot, the owners of the fake YouTube channel of MicroStrategy CEO Michael Saylor swindled 26 BTC (more than $1.1 million) from an unknown user.
— Whale Alert (@whale_alert) January 15, 2022
On behalf of Saylor, Scammers promised to “double” any amount sent to the specified address in cryptocurrency. The user made five separate transactions to send 26 BTC to the scammer. Whalealert suspects this payment was made through a Coinbase address.
Michael Saylor responded and said 489 scams were launched in one week using his name:
“489 of these scams were launched on YouTube last week. We report them every 15 minutes, and they are taken down after a few hours, but the scammers just launch more….”
In December 2021, hackers hacked into the personal Twitter of Indian Prime Minister Narendra Modi for the second time. They wrote on his behalf about the legalization of bitcoin in the country With a 500 BTC Giveaway.
Before this, the Twitter profiles of Elon Musk, Bill Gates, and other celebrities were compromised to a large-scale attack. Recall that in 2021, cryptocurrency scammers earned a record $14 billion, according to the analytical company Chainalysis.