CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,448.00
  • ethereum
    ETH$1,636.72
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Victims Lose $130K in Elon Musk Scam through Movie Firm’s Twitter Hack

    Victims Lose $130K in Elon Musk Scam through Movie Firm’s Twitter Hack

    Author: Benjamin Vitáris

    Last Updated Nov 5, 2018 @ 19:12

    The Twitter account of Pathé – Europe’s second largest film studio and the world’s second oldest operating movie company – was recently hacked netting perpetrators over $130,000 in BTC. Update: as of 5:30 pm (CET), Pathé has managed to recover its Twitter account.

    The scammers posted a sponsored tweet, in which they requested small amounts of Bitcoins, promising unrealistically high returns. To lend more credibility to their scam, the perpetrators even updated the movie company’s Twitter account to impersonate Elon Musk.

    “To verify your address, send from 0.1 to 1 BTC to the address below and get from 1 to 10 BTC back! BONUS: Addresses with 0.50 BTC or more sent, gets additional +200% back,” as stated, impersonating Elon Musk and faking a 10,000 BTC giveaway.

    Since Pathé has recovered its Twitter account and deleted the malicious tweet, the hackers had quite a track record with 850 retweets and 3,700 likes. The movie company has since edited the avatar of its profile as well as the display name and removed every mention of Elon Musk from its Twitter account.

    However, that small amount of time was enough for the perpetrators to dupe people out of more than 20 BTC (over $130,000). The fake giveaway was particularly devastating as Pathé has a verified Twitter account and well over 20,000 followers.

    The “Elon Musk Giveaway”: History of fraud

    The criminals used the “trending” Elon Musk fraud, in which the perpetrators impersonate the Tesla CEO, claiming that he is holding a “crypto giveaway.” To enter the giveaway, you obviously have to send BTC or any other cryptocurrencies to the swindler’s address. Of course, in the end, no one gets any coins – except the con artists who leave with all the money, stealing the hard-earned cryptocurrencies of the victims.

    elon_musk_giveaway
    Elon Musk Giveaway. Image by TheCoinShark

    If you are a regular Twitter user checking out crypto-related tweets each day, there’s a good chance you have already come across this scam. A few weeks ago, even Elon Musk (the real one this time) tweeted, asking his followers jokingly if they want to buy some BTC. Soon after Musk tweeted the message, Twitter locked down the account of the Tesla CEO, possibly thinking that it was another crypto hack.

    Twitter plans to fight off scams with the blockchain

    During his hearing before a U.S. Congressional committee in September 2018, Twitter CEO Jack Dorsey stated that his team is exploring how the company can improve their security and fight off con-artists by using blockchain technology.

    California Representative Doris Matsui, knowing that Mr. Dorsey had previously expressed interest in using blockchain technology, including his efforts to verify identity on the platform to combat rip-off merchants and other malicious attackers, asked the Twitter CEO about the potential applications he sees in the blockchain.

    “First and foremost we need to start with the problems that we’re trying to solve and the problems we’re solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better,” Mr. Dorsey answered. He added that blockchain tech has enormous potential, especially in the cases of distributed enforcement and trust methodology.

    However, this is only a plan, as – at the time of Mr. Dorsey’s hearing – the company is yet to make any progress with its research into blockchain tech.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Benjamin Vitáris
    More posts by this author

    Ben is a crypto journalist and copywriter who has a great passion for blockchain technology. He believes that decentralization empowers people to take charge of their lives, and gives back what we desired for a long time: financial freedom. Contact Benjamin: LinkedIn

  • bitcoin
    BTC$27,448.00
  • ethereum
    ETH$1,636.72
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Future of EOS: The World’s Largest ICO With ENF CEO Yves La Rose (Podcast)

    The Future of EOS: The World’s Largest ICO With ENF CEO Yves La Rose (Podcast)

    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!