Wednesday, 21 November, 2018

Elon Musk Imposter Cons His Followers Off $176K On Twitter

Major European film group hacked to promote Bitcoin scam on Twitter Fake ‘Elon Musk’ Ran Bitcoin Scam Through Film Company’s Hacked Account
Russell Knight | 08 November, 2018, 13:43

According to Business Insider, while Twitter has previously attempted to stop impersonation scams, the hackers have managed to promote their tweets and capitalize on the cryptocurrency frenzy.

I decided to make the biggest crypto-giveaway in the world, for all my readers who use Bitcoin.

A number of verified Twitter accounts were compromised Monday - including those owned by a USA lawmaker, a film company, and a book publisher - all to impersonate SpaceX and Tesla founder Elon Musk.

At the Black Hat cybersecurity conference this August, computer researchers at Duo Security said an analysis of 88 million Twitter accounts between May and July 2018 revealed a huge bot-net that was actively promoting cryptocurrency scams.

In order to add legitimacy to the competition, several other scam accounts often appeared in the replies to the giveaway claiming to have in fact received certain amounts of the digital currency from Musk.

Just one day ago, an anonymous group of hackers breached that Twitter accounts of Matalan and PatheUK, two British media outlets that have been verified (denoted by the iconic blue checkmark) and have garnered thousands of followers.

To contain this, micro-blogging site Twitter came up with a rule which prevents users from selecting his or her name to Elon Musk.

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The account, however, has now been regained following the removal of the malicious tweets and any mentions of Elon Musk.

It became so frequent on the social network that the Tesla chief was briefly blocked from his own Twitter account after he parodied the scam by sending a tweet asking: "Wanna buy some Bitcoin?".

Twitter actually locked Musk's account for some time, believing it had actually been compromised.

In both cases, the scams have stayed up for enough time for attackers to con Twitter users into handing over bitcoin - but Twitter says it is responding to these incidents as efficiently as possible.

The names of several other notable figures have also been used in similar crypto scams. These fakes of the past, however, only used Musk's name and likeness.

What is Twitter doing about it?

"Twitter has also substantially improved how we tackle cryptocurrency scams on the platform", a Twitter spokesperson told ZDNet. "In the last week alone, user impressions have fallen by a multiple of 10, a significant improvement on previous action rates".

It seems, however, that "Elon Musk" is playing some tricks on Twitter again.

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