Fake ‘Elon Musk’ Ran Bitcoin Scam Through Film Company’s Hacked Account

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

Capitalizing on this change, the scammers issued a series of promoted tweets, claiming that them, or "Elon Musk", was giving away 10,000 "Bitcoic (BTC)", which would be valued at $65 million, subsequently beckoning the "community" to participate in the obvious swindle.

"Verified entities don't need any extra requirements to change basic profile details such as name or avatar, and once the account is compromised you can then start pushing rogue ads under the guise of Elon".

After Twitter reportedly restricted (and banned) numerous accounts sharing the likeness of Tesla & SpaceX CEO Elon Musk, one of the social media platform's foremost stars, reports have arisen that claim that the world-renowned entrepreneur has been impersonated yet again, this time in a context pertaining to Bitcoin (BTC).

In some cases, the scammers even used promoted Tweets to help the campaign reach a wider number of Twitter users. A closer look at the user's Twitter handle will reveal the account doesn't belong to Elon Musk, it's an imposter looking to capitalise on the crypto craze.

The account, however, has now been regained following the removal of the malicious tweets and any mentions of Elon Musk.

Twitter users are asked to contribute a small amount of bitcoin in exchange for a larger amount - but users receive nothing from the scam. This sums up to over $135,000 at the current Bitcoin prices.

Be aware that this is a scam and you should not by any means send Bitcoin to an address that claims to be owned by Elon Musk.

There are several well-known company Twitter accounts which have been caught up and used in the scam such as Pantheon Books and the French film company Pathe. The analysis finds that a network of 15,000 accounts stole legitimate accounts, shared fake links, and linked those through other automated accounts to make them seem credible. The accounts were both verified, meaning Twitter users would be more likely to trust their tweets.

"Impersonating another individual to deceive users is a clear violation of the Twitter Rules".

A Twitter spokesperson told the BBC it "doesn't comment on individual accounts for privacy and security reasons". "You know you're important when someone takes the time to hack your account!".

However, it seems like the problem continues to malign Twitter accounts.

Musk has previously asked Dogecoin co-creator Jackson Palmer to help provide a fix to the scam accounts issue.

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