Recently, a group of scammers has targeted over eight Twitter accounts belonging to notable individuals in the crypto space, promoting phishing scams. According to blockchain sleuth ZachXBT, the group has managed to steal almost $1 million worth of cryptocurrency thus far.
The compromised accounts include Pudgy Penguins founder Cole Villemain, DJ and NFT collector Steve Aoki, Bitcoin Magazine editor Pete Rizzo, and even renowned crypto critic Peter Schiff. The scammers used various tactics, including SIM swaps and potentially exploiting a Twitter admin panel to gain control of the accounts.
Once the scammers took control, they swiftly tweeted out phishing scams. Unfortunately, slow response times from Twitter Support allowed some of these tweets to remain active for hours or even days, exacerbating the impact. ZachXBT emphasized the need for improved security measures and recommended using a security key instead of SMS-based two-factor authentication.
More on fraudulent scams
Last week Cryptopolitan reported that NatWest, a prominent British bank, released its annual Celebrity Scam Super League table, shedding light on the celebrities whose identities are unknowingly exploited by fraudsters to defraud unsuspecting individuals. Peter Jones from Dragon’s Den topped the list, closely followed by renowned naturalist Sir David Attenborough. Holly Willoughby and Philip Schofield, who held the top positions last year, dropped out of the rankings for the first time.
Social media platforms, particularly Facebook and Twitter, have become breeding grounds for scam advertisements. Elon Musk, owner of Twitter, himself falling victim to his image being used in a fraudulent ad that cost a victim £42,500. The prevalence of scam ads on social media necessitates collaborative efforts between regulators, law enforcement agencies, and social media companies to combat this issue effectively.
Although NatWest’s data reveals that these top celebrity scams did not involve digital assets. Instead, fraudsters capitalized on the popularity and trust placed in certain celebrities to deceive victims.
