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What is the Elon Musk X Donald Trump Crypto Giveaway scam

Elon Musk X Donald Trump Crypto Giveaway is a crypto scam that intends to steal users’ cryptocurrencies. Users who visit the site will be informed that if they send any amount of crypto to the provided wallet addresses, they will receive double the amount back. However, this is a scam so users who send their crypto will receive nothing in return.

 

 

Users can encounter crypto giveaway scams on all kinds of platforms, including social media (Facebook, X, etc.), and video-sharing platforms. Scammers like to impersonate high-profile individuals to promote these giveaway scams. It goes without saying that the people whose names are used in these scams are not related to them in any way. Scammers are merely using their names for scam promotion.

Most cryptocurrency giveaway scams follow the same pattern and usually look more or less the same, even if different malicious groups operate them. The scams claim that the giveaway is hosted by celebrities who want to “give back” to the people. In this particular case, scammers claim that Elon Musk and Donald Trump are hosting the giveaway. The website hosting this scam explains that any amount of cryptocurrency sent to the provided wallet address will result in double the amount sent back. However, users who send anything will lose their funds because scammers are on the other end of the “giveaway”. Once the crypto is transferred, users won’t be able to reverse the transactions and get their funds back.

ELON MUSK X DONALD TRUMP
CRYPTO GIVEAWAY

During this unique event, you have the opportunity to take a share of 1 000 BTC & 10 000 ETH & 500 000 SOL & 100 000 000 DOGE. Have a look at the rules and don’t miss out on this. You can only participate once!

PARTICIPATE

INFO ABOUT EVENT

About giveaway
We believe that BTC & ETH & SOL & DOGE will make the world more fair. To speed up the process of cryptocurrency mass adoption, we decided to run 1 000 BTC & 10 000 ETH & 500 000 SOL & 100 000 000 DOGE giveaway for all crypto holders!
You can only participate once!

How to participate ?
To participate you just need to send any amount from (0,1 BTC to 15 BTC) or (1 ETH to 200 ETH) or (10 SOL to 10 000 SOL) or (20 000 DOGE to 5 000 000 DOGE) to the contribution address, and we will immediately send back the double amount (0,2 BTC to 30 BTC) or (2 ETH to 400 ETH) or (20 SOL to 20 000 SOL) or (40 000 DOGE to 10 000 000 DOGE) (x2 back) to the address you sent it from

A notable incident involving crypto giveaway scams took place in 2020. Malicious actors were able to successfully hack X (then known as Twitter) and briefly hijacked accounts belonging to high-profile individuals and companies, including Barack Obama, Bill Gates, Kanye West, Coinbase, Apple, Binance, etc. All hijacked accounts posted messages saying they were giving back to the community and would double any amount of Bitcoins sent to them. The posts were up for several minutes only but users transferred around $120,000 worth of Bitcoins to scammers’ accounts.

We should mention that cryptocurrency giveaways that promise to double any transferred amount will always be fake. In general, any giveaway is more likely to be fake than not. Legitimate giveaways would be announced via several legitimate channels that belong to the host.

Crypto giveaway scams are often promoted on social media and YouTube

Crypto scams are advertised in all types of ways. Users may be redirected to it by an adware infection or when browsing high-risk websites without an adblocker. They are also common on social media sites and video-sharing platforms. They are especially commonly promoted in replies by fake accounts under people like Elon Musk’s posts on X. Scammers also hijack YouTube accounts with thousands of subscribers for these purposes.

Perhaps the most common way crypto giveaway scams like this Elon Musk X Donald Trump Crypto Giveaway are promoted is via replies under posts on X. Scammers create profiles that closely imitate those that belong to high-profile people like Elon Musk. The account handles will obviously not match legitimate ones, the posts in the profile will not be the same, and the follower count will be significantly smaller, but the name and profile picture will be the same. This is enough for some users who make rash decisions without checking anything. These fake accounts post replies under legitimate posts made by the accounts they’re imitating. For example, if Elon Musk was to post something on X, there would be replies promoting the scams using fake accounts. If users do not check the handle or the profile, they could easily be tricked.

YouTube is also used for promoting these scams. Malicious actors hijack vulnerable YouTube accounts with at least several thousand subscribers and then host livestreams promoting fake giveaways. These livestreams commonly have several if not tens of thousands of viewers.

Users may also be redirected to crypto scams when browsing high-risk websites. Certain websites bombard users with ads when they click on anything, so unless users have an adblocker, they will be exposed to plenty of crypto giveaway scams.

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