Elon Musk hosted an episode of Saturday Night Live (SNL) recently and scammers have jumped at the opportunity to scam individuals out of money. For the past year, reports have been released on how scammers have been raking in hundreds of thousands of dollars by promoting fake giveaway scams from well-known people or companies, such as Elon Musk, Tesla, and Gemini Exchange. A more recent tactic has been to compromise abandoned verified Twitter accounts to promote these scams to a larger base of followers. These tactics have been very successful for the attackers as they have stolen cryptocurrency over one million dollars from their victims. With the recent SNL featuring Mr. Musk, the Twitter scammers have been using compromised Twitter accounts to impersonate SNL to advertise their cryptocurrency scams. The scam advertises a possible 5,000 Bitcoin (BTC) giveaway, worth approximately $291 million dollars, that uses Mr. Musk’s likeness. The scam post requires a user to send the scammer a small amount of BTC with the promise that they will pay back 10 times the given amount. There is, of course, no truth to the claims and once Bitcoins has been sent to the scammer, there is no refund process or any way to get it back. MalwareHunterTeam has been monitoring these scams and reports that these style schemes are being very heavily pushed because they have made almost $100,000 over the past two days.
: It is important to remember that no one is going to give away BTC for free, especially given the high exchange rate. If someone sees a giveaway of BTC, especially one alleging to be promoted by Elon Musk, it is almost guaranteed to be a scam – The real Elon Musk has never advertised a giveaway like this. As with anything, use the adage, if it seems too good to be true, then it is.