“Elon Musk” scams are invading people”s Twitter timelines again, Business Insider reports. Announcing he”s left his CEO position at Tesla, Musk is all of a sudden feeling generous enough to hand out digital currency to random people on Twitter. Better said, the fake accounts claim to be giving out “Bitcoic” by inviting followers to participate in a fake cryptocurrency giveaway.
Cryptocurrency scams have gained popularity and show no sign of slowing down. Hackers are now even promoting them through Twitter”s ad service. How do they work?
Trying to make a quick buck off the cryptocurrency mania, hackers compromise legitimate accounts. Accounts known to have been hacked are Pantheon Books, film production company Pathe UK and US, and politician Frank Pallone Jr, for a few examples. Then the hackers change account names and pictures, and start tweeting their scams, sometimes by infiltrating Musk”s mentions. Now, thanks to the sponsored ads, they are visible on people”s timelines. And they must be working, as one account has allegedly raised some $170,000.
“Impersonating another individual to deceive users is a clear violation of the Twitter Rules,” said a company spokesperson. “Twitter has also substantially improved how we tackle cryptocurrency scams on the platform. In recent weeks, user impressions have fallen by a multiple of 10 in recent weeks as we continue to invest in more proactive tools to detect spammy and malicious activity. This is a significant improvement on previous action rates.”
Since these scams started, Twitter has been trying to take them down. The company has come up with strategies to prevent accounts from getting major changes, such as blocking name changes. Obviously, they have to keep working on it as it hasn”t proven very successful so far.
Elon Musk has been professing his love for Dogecoin for a few years now — his first post about it goes back to 2019, when he called it his “fav cryptocurrency” — and he has since been sending the crypto on a rollercoaster ride following each one of his multiple posts about it.
revealed on Twitter that he owns only a tiny fraction of one bitcoin token. "I literally own zero cryptocurrency, apart from . 25 BTC that a friend sent me many years ago," Musk confessed.
Considered in isolation, non-negative tweets from Musk lead to significantly positive abnormal Bitcoin returns. Individual tweets do raise the price of Bitcoin by 16.9 % or reduce it by almost 11.8 %.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
Microsoft cofounder Bill Gates isn't a fan of cryptocurrency. Gates, now fourth-richest person in the world with a net worth of $125 billion, said during a Thursday Ask Me Anything exchange on Reddit that he doesn't own any digital currency. “I like investing in things that have valuable output.
In a January ask-and-answer session on X, Cuban said that his crypto portfolio includes Bitcoin, Ethereum, Polygon and Injective, and that his NBA team the Dallas Mavericks still accepts Dogecoin as payment.
How many bitcoins exist, and how many are left to mine? Limited Supply: Bitcoin has a maximum supply of 21 million coins, and as of March 2023, more than 19 million have been mined. Remaining bitcoins: There are approximately 1.5 million bitcoins left to be mined.
Musk moved to make money from Twitter's “blue check” verification program, a method of making sure users are who they say they are. The billionaire announced that the program, which is currently free, will be rolled into the “Twitter Blue” subscription service, which will offer enhanced features for a monthly $8 fee.
Twitter is a powerful marketing tool and social media channel for crypto projects. It can help direct more traffic to your website, build your crypto community, improve brand awareness, engage your audience, and create personal relationships with your followers and customers.
The live price of Dogelon Mars is $ <0.000001 per (ELON / USD) with a current market cap of $ 102.41M USD. 24-hour trading volume is $ 2.21M USD. ELON to USD price is updated in real-time. Dogelon Mars is +0.3% in the last 24 hours with a circulating supply of 549,652.77B.
Elon Musk, Tesla, and Spacex Maintain Crypto Holdings
Known in the dogecoin community as the Dogefather, the Tesla CEO has long been a supporter of the meme crypto. He previously revealed that he personally owns DOGE alongside BTC and ETH.
Floki (FLOKI) is the people's cryptocurrency and the utility token of the Floki Ecosystem. It is a cryptocurrency birthed by fans and members of the Shiba Inu (SHIB) community and is inspired by (and named after) Elon Musk's Shiba Inu.
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