“Duplicate bitcoins” scam generated R $ 3 million in one week, says report

Charlie Taylor


Unfortunately, the old crypto multiplication scams continue to make millions of reais in bitcoin and altcoins from unsuspecting people.
Data released by Bleeping Computer and Metamask estimated that, in just one week, scammers received about R $ 3.1 million of unsuspecting victims using the old trick of “send me X amount of cryptocurrency and I will return you double”.
As difficult as it may seem, even in 2022 many people think that Elon Musk will distribute money if they send him bitcoins, and the scheme has been revived in recent days, attracting even more victims.
No matter how wealthy people are, they don't give away free money on the internet much less need their bitcoins for that. What is very common to spread this type of scam is the invasion of large youtube accounts, as was the case with Zangado or Ei Nerd, which were used to broadcast a fake Ripple live.Coinext 760x150

Elon Musk giving bitcoins on Twitter? Old scam is still highly profitable

In the past few weeks, bots pretending to be famous people or responding to verified Twitter accounts have tried to carry out the old trick of doubling bitcoins. These bots claim to have received money from great personalities, like the twins Winklevoss or Elon Musk, and attach a link to an offer that invites people to deposit money in a cryptocurrency address to immediately receive double the amount.
Some of the scammers' addresses raised thousands or even millions of reais, with one in particular, receiving R $ 2.1 million in a matter of days.
Realize that many are still dedicated to generating an address with the name “Musk” to pass on more credibility. But scammers are not bitcoin maximalists, and they accept other cryptocurrencies as well.
Scammers often go to other platforms as well like Twitch and Facebook to attract even more victims. Ripple tried to take action against YouTube by allowing scammers to spread fake videos as paid advertisements. The lawsuit ended up not giving favorable results and complaints about scams involving Elon Musk, Ripple or any other person or company in the middle follow appear from time to time on video streaming platforms.

Scammers have been doing this for a long time

This type of scam is not new. In fact, it is probably the best known scam in the crypto world. They began to spread absurdly from late 2017 to early 2018, amid the hype of cryptocurrencies.
At that time, scammers were posing as personalities known to cryptocurrency enthusiasts (such as CZ, Charlie Lee or Vitalik Buterin) and were responding to official tweets. Some users ended up confusing the answer as a tweet from the original account and ran to send their funds.
It became so common and irritating that several influencers changed their names to specify that they would never send funds to anyone.
Co-founder of Ethereum Vitalik Buterin specifying in his name and in tweets that he was not distributing ETH, BTC, BCH or any other cryptocurrency.
This type of scam peaked in 2020, when Twitter witnessed a high number of official and verified accounts (like Elon Musk, Barack Obama, Joe Biden, Bill Gates, Ripple, Apple Store, etc.) promoted cryptocurrency multiplication scams .
In reality, hackers gained access to Twitter's "God Mode", being able to basically do whatever they wanted … and with all that power, all they wanted was to win cryptocurrencies from as many victims as they could reach.
See also: What is a financial pyramid or ponzi? Don't fall for the scam!


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