May 26, 2022
Phony Websites, YouTube Videos are Promoting a Twitter Cryptocurrency Investment Scheme, Security Experts Warn

No, Elon Musk and Jack Dorsey are Not Promoting a New Twitter Investment Opportunity

Twitter’s future is uncertain and scammers are circulating bogus websites and videos featuring Elon Musk and Jack Dorsey promoting a fake investment…

Twitter isn’t nearly as big as rivals Facebook, TikTok, or Instagram. But, a lot of people believe that Elon Musk, who recently acquired the microblog, can make it more popular and deliver a sizable profit. This presents a prime opportunity for threat actors, who are exploiting the situation, fooling people into investing their cryptocurrency into a phony Twitter venture that promises a huge return on investment.

Phony Websites, YouTube Videos are Promoting a Twitter Cryptocurrency Investment Scheme, Security Experts Warn

Cyber-security experts over at McAffee have recently uncovered a rather simple, yet very elaborate scam that’s already managed to dupe people out of more than $1.3 million in various forms of cryptocurrency. Instead of relying on malware or other malicious code, this scheme preys on gullible cryptocurrency holders, attempting to trick them out of their virtual assets.

The criminal campaign pushes an edited version of an old live panel discussion on cryptocurrency with Elon Musk, Jack Dorsey, and Cathie Wood at Ark Invest’s “The ₿ Word” conference. Victims are promised to double their assets by sending their cryptos to specific addresses. Obviously, it’s a total scam to steal and McAffee has found over twenty-six websites hosting the scheme but that’s likely a fraction.

William Boleys

Will is an experienced freelance writer who covers a wide range of topics, including apps, social media, and search.

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