Bitcoin is a decentralized cryptocurrency that has been in the news for the past few years. There are no rules and regulations that govern bitcoin’s work, which is the primary reason that some investors hesitate to try their hands into cryptocurrency as the scams and frauds are increasing at a rapid pace. You can see a bitcoin scam almost every day in the news. If we talk about the bitcoin scams, the latest news is about a crypto scam carried out by some hackers who hacked the official Twitter account of the mobile phone giant Realme and tried to follow the users. 

However, the company acted quickly and gained back control over the Twitter account in no time. The scamsters changed the Logo and name of the Twitter account and made it look like the account of Tesla, a company owned by Elon Musk. If you want to become a successful Bitcoin trader, You can find more information regarding ways to buy bitcoin. People are already hesitating to adopt cryptocurrency, and if such scams keep on occurring, the people will lose their interest as well as trust in the crypto world forever.

The Realme Twitter Scam

Realme is a well-known brand all over the world. Recently, the official Twitter handle of Realme support got hacked. The hacker changed the username of the account to an attractive version of Tesla. The worse part was that the Realme Twitter handle is verified, and when it was changed to Tesla, most of the users fell for the scam as they thought it is the official Twitter handle of the electric car manufacturer. Tesla is one of the biggest automobile companies, and the interest of its owner in cryptocurrency made it easier for hackers to make people believe about the scam. They knew that people would easily believe if they used the name of Elon Musk as he is one of the biggest promoters of cryptocurrency. The aim of hackers behind hacking the account and changing its name is still not clear but seeing their tweets; it is obvious that they were trying to lure people in sending them bitcoins. 

A tweet by the hackers quoted, ‘Win a lot of Bitcoins in our broadcast, we start in 3 minutes. The team of Realme acted responsibly and they took off the tweet before people started believing it and acting accordingly. It was not the end as shortly after it, another tweet got posted from the Realme Twitter handle and it read; ‘Tesla goes beyond the usual understanding of decentralization. And we have a surprise today. The officials of Realme stated that the Twitter handle is under development and is monitored continuously. A deep investigation is also being done by the internal to find the cause of this issue.

The hackers were quite smart as they didn’t use any new tweets from the Realme account; instead, they went on the profile of Elon Musk and started spamming a message on his tweets that obviously looked fake. The message had a link mentioned which was the main element of the scam. Any users who would have clicked on that link would have become a part of the scam.

With the increasing popularity of bitcoins, hackers are trying new ways to carry out a scam which is an alarming issue. Everyone knows that bitcoin is a decentralized cryptocurrency which is the primary reason that you need to be highly careful while dealing in it as a single click can make you lose all your money. Numerous people don’t have the proper knowledge and easily fall for such scams and become a victim. Once you have sent bitcoins to anyone, you cannot get them back, which makes it worse as a single mistake will make you lose the funds permanently.

Another scam occurred with the fake Twitter handle of Elon Musk. The hackers tweeted from the account, ‘Dojo 4 Doge’, and there was a link below that. It looked quite authentic as the link was of a website that looked real and professional. The website had a timer and offered a chance to the user to earn some bitcoins for free. It claimed that the users could turn 0.1 bitcoin into 20 bitcoins. One of the users from Germany sent ten bitcoins with an expectation to earn 20 bitcoins. It made him suffer a massive loss of 400000 Euros.