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Another Crypto Giveaway Scam: Vertcoin Tweet Promised 10 BTC to the Winner

Participants were required to send 0.005 BTC each to an unknown address

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Another Twitter Account Hacked

The decentralized cryptocurrency, Vertcoin, found its Twitter account hacked on May 1st, when a tweet promising a 10 BTC giveaway to celebrate the cryptocurrency’s success was posted by fraudsters. The hackers required its followers to send 0.005 BTC to an unknown address, while promising that the winner would get 10 BTC in return on May 5th.

Hey, everyone! Vertcoin and staff are pleased to announce that we’re doing a 10 BTC giveaway to our followers to celebrate Vertcoin’s success. Send 0.005 to 3HU5sj7kB6wT9zRwpbhCRrR28vKWjfkMKf enter! Winner will be announced 5/3/18 at 8pm EST.

— Vertcoin (@Vertcoin) May 1, 2018

Shortly after the tweet, the Vertcoin’s lead developer, James Lovejoy declared the Vertcoin twitter account had been hacked, warning followers off accepting any giveaways. In 12 hours, Vertcoin’ twitter account was back under control, as indicated by Lovejoy’s subsequent tweet:

The Vertcoin Twitter account hack adds to the list of other giveaway scams that have occurred in the past.

Pavel Durov- Telegram

In April, scammers hacked a Swedish musical band’s verified Twitter account to impersonate it as Pavel Durov’s (CEO of Telegram) account. Subsequently, they promoted fake giveaways of 5000 ETH and 1000 BTC.

Elon Musk

Looking further back, in February we saw fraudsters hack into Elon Musk’s twitter feed promising a 5000 ETH giveaway to commemorate a launch event. Participants were required to send 0.3 – 2 Ether to an address to get 10 times the Ether they had sent in return.

Charlie Lee

In January, following Charlie Lee’s LTC donations in December, we saw multiple fake Charlie Lee accounts promising free LTC giveaways. Imposters used similar Twitter account names such as @SatoshiLitez and @SatoshiLitee_ to announce giveaways ranging from 50 to 500 LTC.

Image Credit: Deposit Photos

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