Market Overview

Will The Real Elon Musk Please Stand Up: Another Twitter Bitcoin Scam

Will The Real Elon Musk Please Stand Up: Another Twitter Bitcoin Scam

Another cryptocurrency scam hit Twitter Monday, with a hacked verified account pretending to be Elon Musk offering advice and attempting to lure viewers to a website.

What Happened: A hacked Twitter account, @bagder, pretended to be Musk on Twitter Monday night. The account had a verified blue check mark and changed its name to "Elon Musk."

Game of Thrones actress Maisie Williams asked for advice on whether she should buy Bitcoin from her 2.7 million followers on Twitter Inc (NYSE: TWTR).

The actress got advice from both the real Musk and the fake Musk.

The Tesla Inc (NASDAQ: TSLA) CEO told Williams to “toss a bitcoin to ur Witcher,” in reference to the show "The Witcher" on Netflix Inc (NASDAQ: NFLX). Musk also shared an article from parody site The Onion as a response.

The fake Musk Twitter account shared a fake website and a YouTube link in response to Williams. The account was hacked and presumably trying to steal from Williams and any followers who fell for the fake Musk Twitter account.

Williams also got advice from Grayscale Bitcoin Trust (OTC: GBTC) founder Barry Silbert and Galaxy Digital Holdings (OTC: BRPHF) CEO Mike Novogratz.

Related Link: As Bitcoin Nears $17K, A Citibank Analyst Projects $300K Levels Next Year

Why It’s Important: With the price of Bitcoin rising, scams for the cryptocurrency could rise.

Musk has been a popular target on Twitter for hackers due to his large following, cult status and people’s willingness to trust what he says.

The Tesla CEO said in February “this is not cool” in response to more cryptocurrency scams hitting Twitter.

Twitter could lose trust from its largest users if the frequent Bitcoin scams continue to occur.

As of Tuesday morning, the tweets from the fake Musk account were still up on the site with the website link to steal the cryptocurrency.

Price Action: Shares of Tesla were up 8.34% at $442.14 at last check Tuesday. 

Bitcoin was trading at $17,331. 


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Posted-In: Bitcoin Elon Musk Game of ThronesCryptocurrency News Penny Stocks Markets Tech Best of Benzinga

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