Watch Out for the Twitter Cryptocurrency Scam

It should be no surprise that scammers are looking to take advantage of the growing interest in Cryptocurrency.

One of the most common scams I have seen lately is on Twitter. The scammer creates an account that looks identical to a verified account of a celebrity or person who is vocal in the crypto community. They then respond to that person's tweets and try and fool others into believing they are the same person.

It sounds like an easy thing to spot, but a lot of people have been caught out by this.

Beware of the Twitter Crypto Scam

One of the reasons the scammers have been successful is because they are using other fake accounts to provide social proof. So when a scammer offers free money if you send them a little money, other fake accounts respond saying they just received their money in “The Competition”. It is an easy thing to spot once you know what's going on, but unfortunately, a lot of good people are losing money to the scammers.

Be wary of anything that sounds too good to be true and don't send your money to strangers thinking they will send you something back. If you do, you will be taught an expensive lesson.

Kevin

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