Scammers promote fake cryptocurrency giveaways via Twitter ads

Scammers promote fake cryptocurrency giveaways via Twitter ads

Threat actors have started to use ‘Promoted’ tweets, otherwise known as Twitter ads, to spread cryptocurrency giveaway scams.

For some time, BleepingComputer has been reporting on scammers hacking into verified Twitter accounts to promote fake cryptocurrency giveaway scams. These scams pretend to be from well-known people or companies, such as Elon Musk, Tesla, Gemini Exchange, and, more recently, Chamath Palihapitiya, and Social Capital.

These scams have been incredibly successful for the threat actors, with one round of scams generating over $580,000 in a single week.

As these scams…

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