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.
Elon Musk, the mastermind behind companies such as Tesla and SpaceX, seems to be a beloved figure in the world of crypto scammers on Twitter. The accounts also retweet various posts by Musk, Tesla and Space X, in an effort to look more like the real Elon Musk account.More news: Colorado man pleads guilty to killing pregnant wife, kids
Accounts which have big followers, the scammers have paid for a Twitter advertisement to promote the tweet, resulting in Twitter showing the scam tweets as promoted posts.
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.More news: Zero comes under scrutiny for offending Sikh community
The bitcoin wallets associated with the scam suggest the campaign has been successful for the attackers, with nearly 400 users contributing a combined total of 28 bitcoin to the cryptocurrency wallets - now the equivalent of £137,000 ($180,000).
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.
In most cases, the affected accounts have been recovered and the scam Tweets deleted in the space of a few hours, but in some, the compromised accounts have continued to display posts made by attackers for an extended period. After hacking a verified account, the scammers have successfully "promoted" their tweets using Twitter's ad service, effectively forcing their way into timelines of everyday users. This is a significant improvement on previous action rates... However, the way in which accounts are regularly being compromised suggests that many users aren't adopting this additional layer of protection. Let us know what you think down below! Still, this seems to have done little, similar to Twitter's rule about changing your name to Musk's.More news: Calls To Recognise War Veterans On All Forms Of Transport In Australia
Recently, however, these scams have ventured outside of Musk's mentions and into timelines.