Police warning on social media security after Elon Musk bitcoin scam

Media playback is unsupported on your device                  Media caption Who is Elon Musk

But numerous posts still bear the hallmarks of classic scams - including frequent spelling errors (see "Bitcoic" and "suppoot" in the above tweet) and a request for money.

Some of the tweets stated that the Tesla CEO was conducting a crypto giveaway and provided a link for interested people to participate in the giveaway.

The compromised Matalan Twitter account retweeted Elon Musk Tweets to look more legitimate. In this case, two United States lawmakers with verified status, Frank Pallone and Brenda Lawrence, reportedly had their accounts taken over, alongside corporate accounts such as those belonging to film production firm Pathe UK.

While the scammers first promoted their tweets, the promoted tweets were erased, but some of the accounts remain active.

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The scam read "I'm giving 10000 Bitcoin (BTC) to all community!" So far, the wallet has received more than 27 Bitcoin (around $180,000 USD) from the Pallone and Matalan accounts while the Pantheon one directed the users to a different address which received around $12,000 Dollars. Payments were still coming in at that time. At press time, the address referred to by Markay had a final balance of 26.38 BTC ($168,930). The hackers also updated Pathé's account to impersonate Elon Musk, perhaps in an effort to lend more credibility to the fake giveaway.

Other top individuals in the tech space and the crypto industry have been impersonated as well. In April, founder and CEO of Telegram Pavel Durov tweeted a warning, telling his followers that the messaging app was experiencing downtime due to its server clusters overheating.

In January, Twitter saw an influx of Litecoin (LTC) founder "Charlie Lee" impersonators, with multiple imposters posing as the LTC creator and promoting a fake LTC giveaway.

The apparent error quickly came to the attention of pundits, who slammed Twitter for allowing an advertiser to pay for added visibility for the fake giveaway and for failing to spot its obviously fraudulent nature. Mainly how Twitter's ad service is handled and why the system did not recognize such strong clues like changed avatar or cryptocurrency being mentioned. Some included SatoshiLite, Satoshilitez, and Satoshilitee. However, obviously you will not get a single cent out of this scam, only the scammers. Palmer replied nearly immediately, urging Musk to reach out to him using direct messages. Palmer then sent Musk an automated script that would do just that.

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