Vertcoin’s Twitter account is the latest Twitter account to have fallen into the hands of scammers hijacking verified Twitter accounts in order to conduct fake giveaway scams on Twitter users who are looking to make an easy buck.
The first of May saw the verified Twitter account of Vertcoin make a post saying that it was very happy to announce that it will be doing a Bitcoin giveaway. This was very similar to the other cryptocurrency scammers’ Twitter scams which promised the participants high rewards in Bitcoins for sending in a small amount to them for participation.
As soon as the compromised account of Vertcoin made the tweet the lead developer of Vertcoin had called out the attack for being a fake tweet and said that Twitter Support had been contacted regarding the issue. He also went on to say that any such giveaways are all scams and should not be fallen for.
Not an Isolated Incident
Cryptocurrency scammers have been making use of Twitter to fool the more gullible cryptocurrency investors who want to make money. Posing as influential people in the Twitter community, cryptocurrency scammers have been promising Twitter users big rewards as giveaways for participating and sending in a small amount to register for the giveaway. With Vertcoin’s example, they are no longer just posing as influential members through other verified Twitter accounts to look like the influential members of the community, they’ve started hacking the actual accounts of those influential members.
Scammers have been at it for a while now with some cryptocurrency scammers managing to make a fake Twitter account for the Tron Foundation which is the organization that created the TRON project. They did this by hacking the Twitter account of Literacy Bridge, which is a nonprofit which is based in Seattle.
After taking over the account, cryptocurrency scammers changed the profile picture of the
account and pinned tweets very similar to the ones made by the actual Tron Foundation. They changed the Twitter username from Literacy Bridge to “tronfoundationl”. The extra l is something to take particular notice of.
After having made the fake account which looked very much like the real one, the cryptocurrency scammers replied to the tweets being made by the founder of Tron Foundation, Justin Sun, and asked for donations. This Twitter post received hundreds of likes and retweets from the Twitter community until the fraudulent nature of the Twitter account was noticed by some users.
The Twitter post made by the Vertcoin’s hijacked account by cryptocurrency scammers has not yet been taken down by the Twitter staff. The good news is that since the leading project developer for Vertcoin immediately called out the scam for what it was, no transactions have been reported as being made with the addresses which were given by the compromised Vertcoin account.
is a Bitcoin pioneer, a social economist and digital currency trader. His work in this field is legendary. In 2011, at the dawn of the crypto era, he founded BitInstant, the first and largest Bitcoin company. In 2013, he founded the Bitcoin Foundation and serve as its vice chairman. Since then, Charlie has advised more than a dozen digital currency companies, launched and managed numerous partnerships between crypto and non-crypto companies, and is the go-to guy for some of the world’s wealthiest entrepreneurs. In short, he is the ultimate insider at the epicenter of the crypto universe.
is a premier advisory firm providing expert research, education and advice in the world of cryptoassets. The company is unique in that it combines the unparalleled expertise of crypto pioneer Charlie Shrem with the unparalleled market knowledge of three Wall Street experts with more than a century of combined financial industry experience. Together, they have managed and traded more than $1 billion in assets. In a world of "instant experts," who have little knowledge or trading experience, the Crypto.IQ team offers the proven depth, insight and knowledge to help their clients achieve success.
Raise your Crypto.IQ…and profit! Crypto.IQ gives you the insider knowledge you need to succeed as a cryptocurrency investor.
Get Started Now