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Cryptocurrency Scammers Hijack Verified Twitter Accounts to Trick Users


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Cryptocurrency scammers are currently using Twitter to take advantage of naïve investors looking to make some easy money. Often, the scammers pose as influential community members, and promise those that send them a specific cryptocurrency a reward a number of times greater than the initial donation. Now, they even started hijacking verified accounts to look more credible.

To legitimize the move, these scammers then add fake replies to the tweet asking for donations. These replies usually claim they’ve received the funds and thank the person. These scammers are usually easy to spot, as they use recently created accounts, with usernames with extra letters, and without a blue checkmark only Twitter can give its users.

According to Buzzfeed News, scammers recently managed to create a fake, verified Twitter account for Tron Foundation, the organization behind TRON (TRX). To do this, they seemingly hijacked the account of Literacy Bridge, a nonprofit based in Seattle that’s focused on “improving the health, income & quality of life for the world’s most underserved communities.”

After taking over Literacy Bridge’s verified account, the scammers changed its profile picture, pinned a tweet just like the one the real Tron Foundation has pinned, and changed the handle to “tronfoundationl” – notice the extra “l”.

Using the fake account, the scammers then replied to a tweet posted by Justin Sun, Tron’s founder, asking for donations. The tweet, according to Buzzfeed, received over 200 likes and retweets, presumably thanks to the blue checkmark.

Some Twitter users noticed the change, and quickly spread the word.

Geoff Goldberg, a Twitter user who frequently calls out spam accounts, spotted the fake Tron Foundation. Speaking to Buzzfeed News, he stated:

“I saw it was a verified account so immediately was intrigued. To me, it was clear it was a scam, given that I have been encountering these for quite some time. But to others, given the verified account, I could totally see people falling for it.”

After BuzzFeed and the Tron Foundation reported the fake account, it got taken down. This, however, wasn’t an isolated incident. Hackers seemingly managed to hijack another verified Twitter account belonging to a luxury menswear design team in London, going by “adaxnik.” After hijacking his account, the hackers then spoofed Justin Sun’s account.

At press time, Tron’s founder seemingly has two verified accounts on Twitter. One of them is trying to help users stay safe and expand Tron’s reach. The other one claims there’s a Tron airdrop on the way, and is sending users a link to a fake website I wouldn’t dare click on.

Twitter may have a share of the blame as well, as it’s supposed to remove verified accounts once their username changes. At the end of the day, Binance CEO Changpeng Zhao, who recently got his Twitter account verified, makes things clear:

Featured image from Shutterstock.

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Law enforcement in Ukraine has arrested four young men who were running at least six fake cryptocurrency exchanges. The cryptocurrency sphere is an exciting space, and many people are eager to begin buying and selling virtual currencies. However, such an influx of money and inexperienced newcomers also bring out the criminal element, seeking to gain funds at the expense of those new to the space. Scams abound, but police in Ukraine have done their part by arresting some individuals who ran a number of fake cryptocurrency exchanges. Using Programming Skills to Set up Scams In the city of Dnipro, Ukraine, police announced that they had arrested four men between the ages of 20 and 26. The quartet had set up a number of fake cryptocurrency exchanges. Police know of six fake exchanges that they operated, but there is a definite possibility that there may be more. The six fake exchanges include: moneycraft.info, wowex.online, swapex.net, myexchanger.lv, iconvex.net, and likechange.biz. Police say that the criminals had “special knowledge and skills in the field of programming” and “have created their own CMS-system for managing the content of exchange sites.” Unsure of Amount Stolen Police are asking those who were scammed by the fake cryptocurrency exchanges to come forward and file complaints. As of now, law enforcement does not know exactly how much the four men were able to steal from their victims. Police may be able to glean such information from the equipment that was seized during the arrests. It was reported that flash drives, computers, smartphones, and other equipment were confiscated when police raided the homes of the four men. The reality is that crime and scams are rampant in the cryptocurrency sphere. One should always do due diligence before spending any money. The world of virtual currencies is still akin to that of the Wild West, which means that danger is just as close as excitement and opportunity. Have you ever been scammed by a fake exchange, wallet, or ICO? Let us know in the comments below. Images courtesy of Shutterstock. The post Police Arrest Four Ukrainians for Running Fake Cryptocurrency Exchanges appeared first on Bitcoin Network, News, Charts, Guides & Analysis.

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