Bitcoin chief giveaway

recently reported on a BTC giveaway scam leveraging the name of Virgin Galactic chairman Chamath Palihapitiya. Besides.
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Two more listings were announced. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.

Ripple CEO settles YouTube giveaway scam lawsuit

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    7. The listing has helped the price of TRUE grow by 2. Get in touch. Since receiving the spreadsheet from Lister earlier this week, a 67th Elon Musk vanity address was also submitted to the BitcoinAbuse website. This vanity address held an additional Because BitcoinAbuse also requires users to add a short description of where they encountered the Bitcoin address, this made investigating the source of some of these scams much easier. Hackers hijacked high follower-count YouTube accounts, changed the account name and its graphics to mimic the account of a celebrity or a trusted brand, and then launched a live stream to broadcast their scam.

    In our investigation, we found that hackers had either renamed the channels to Elon Musk's name, the SpaceX brand, or news outlets such as Euronews, seeking credibility.

    Overseas operations

    The Bitcoin address was usually embedded either in the live stream itself, and users had to scan it with a QR code reader, or users were asked to visit a dedicated "giveaway" website. But we're not reporting on something new here, with multiple of these fake Elon Musk giveaway live streams making the news this month alone [ 1 , 2 ].

    Bitcoin giveaway scams abusing the Elon Musk and SpaceX names have been going on all month, ever since SpaceX and Musk made the news last month for the company's first successful rocket launch carrying a live NASA astronaut crew. Bitcoin and Ethereum giveaway scams have been around since at least February , when the first such case was reported.

    Since then, the trick has gotten old and users have gotten better at spotting the scammers. The role of the Bitcoin vanity address was to give more credibility to the scam and make it look authentic, similar to how "verified profiles" give more authenticity to accounts on social media sites like Twitter, Facebook, and Instagram. The Bitcoin network doesn't have a way to "verify" addresses, so vanity addresses, which are hard to come by, are the closest thing to a "verified" Bitcoin address.

    ZDNet also found other vanity addresses submitted to the BitcoinAbuse database and reported as being abused in similar YouTube-based giveaway scams.


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    We similarly found vanity addresses for SpaceX and Bill Gates. In addition, we also found another Bitcoin vanity address that was not available on the BitcoinAbuse website. This one had been used for a giveaway scam that tried to take advantage of the recent launch of the Play Station 5 gaming console. Luckily, no user fell victim to such a scam. As long as these scams have a giant return-on-investment and crooks make more than they spend setting up the scam, the "giveaway" scourge will continue to haunt cryptocurrency owners.

    Users should be wary as these scams aren't limited to YouTube live streams only, and have been also spotted on Twitter, Facebook, Instagram, and more recently on TikTok -- similarly by hacking into high-follower profiles and broadcasting the scam for a short period.

    Monex Group Hopes Bitcoin Giveaway Will Get 50k People Trading Crypto

    Blockchain and Cryptocurrency: People, Culture and Tech. Brad was not amused Photo: Ripple. You May Also Like. Brad Garlinghouse: Ripple Twitter hijacked by giveaway scam. July 15,