While Tesla Inc TSLA and Miley Cyrus were making their “Saturday Night Live” appearance, some unscrupulous actors were running a Dogecoin (DOGE) scam impersonating the latter on Twitter Inc’s TWTR platform.
What Happened: On Sunday, a tweet which was disguised to appear as if it came from the verified account of Cyrus asked for “supporters” to help “crypto mass adoption.”
The scam tweet promised that 100 million DOGE would be distributed among those who participated in the “event.” A link was also provided.
Another tweet promising 5,000 Bitcoin (BTC) for participation was also made by the same account.
The promised reward in DOGE converts to $54.3 million, while the BTC amount is equivalent to $294.96 million as of press time.
See Also: How to Buy Dogecoin (DOGE)
DOGE traded 15.64% lower at $0.5429 at press time, while BTC traded 0.55% higher at $58,993.50.
Why It Matters: The tweets appeared to have been made by an account belonging to a Season 22 participant in the reality television show "The Bachelor."
The website whose link was provided in the impersonated tweet demanded DOGE, BTC, and Ethereum (ETH) and promised multiplied returns.
As of press time, the alleged scam wallets have received 188,615.07 DOGE worth $115,028.81and 0.10212763 BTC worth $6,119.51.
Another wallet contained 18.18 ETH valued at $73,492.39. The total amount in the wallets is nearly $196,640.71.
In March, a fake account impersonating Musk’s profile on Twitter cost a man $561,000. That scam also revolved around an “event.”
There has been a string of scams carried out by verified Twitter accounts that can seem convincing at first. This makes it vital for social media users to check the username to make sure the tweet is posted by a real account holder.
Last year, when Game of Thrones actress Maisie Williams sought cryptocurrency advice from her followers on Twitter, the tweet was responded to by both the real Musk and an impersonator.
Read Next: Why Is Dogecoin Refusing To Budge As Elon Musk Gives One Push After Another?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
