Attackers are now using the Promoted tweets on Twitter to spread cryptocurrency scams. According to expert’s analysis hackers are promoting fake cryptocurrency scams. These scams are used by well-known people or organization accounts such as Elon Musk, Gemini Exchange, Chamat Palihapitiya, Social Capital, and Tesla.
These scams are getting more dangerous to the users as the hackers use genuine names in their scams. Whereas these campaigns are already giving more revenue to the attackers as they started targeting the other cryptocurrencies which are getting popular nowadays.
How did these Scams Operate?
While promoting the services and content, the users use promote feature by paying Twitter, this will started shown in other user’s accounts as shown below.
After that multiple security researchers are continuously monitored the new trend used by several attackers while taking out and promoting the advertisements on Twitter.
The hackers use Twitter promotion features and also share the fake URL of cryptocurrency giveaways and infect the users. While creating the tween the hackers may break the URL, by this Twitter is unable to detect these fraud scams.
Unlike other scams, these URL also redirects the users to fake pages created by the hackers and these pages also looks like genuine and contains big brands names while enhancing the user experiences.
The pages used in these scams are generally associated with Tesla or Elon Must that promised the victims to give a Dogecoin, Bitcoin, and Ethereum and told the users to send the coins to them. The hackers also promise the users that they will credit the double amount into their accounts.
According to the investigation the hackers are generated around $39,628.06 from these scams and the quantity of money is rapidly increasing day by day.
Some addresses used in this scam are listed below;
Bitcoin:
- 1MUSK2xaUCQmdEM8DrUJQ9RSgTdLqnKium – 0.54653960 BTC
- 1MoP7JTQuJE8K9pv8mV9uwo5efCgRtLYNU – 0.02196955 BTC
- 1Musk7UAHXM6YBtccdaqK7ttsRxSTUSDVH – 0.11815051 BTC
Ethereum
- 0xE1a6d4699Bd6520ADdEcD46b52dd2eFC833142ED – 0.915305158603885603 Ether
- 0xc77Ec8E5bbB723e6cEa13fD33bfF53262bb02b86 – 0.118890894374483125 Ether
Summering Up
These scammers are using many more addresses apart from these, these types of scams are rapidly increasing day by day and get more profit as compared to other scams. The main reason behind these scams are the popularity of cryptocurrencies and they also used well-known brands name while executing these scams.
