Twitter Promoted a Fake Elon Musk Crypto Giveaway Scam

A verified Twitter account masquerading as Elon Musk was used to publish and circulate a promoted tweet for a crypto scam Thursday.

AccessTimeIconOct 11, 2018 at 2:09 p.m. UTC
Updated Aug 18, 2021 at 10:01 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

A verified Twitter account masquerading as Elon Musk was used to publish and circulate a promoted tweet for a crypto giveaway scam Thursday morning.

The since-deleted tweet was posted through the account @TylerFlorence, which as of press time is still accessible. A link posted to the tweet directs to a giveaway site (which CoinDesk is not linking), prompting users to "sеnd frоm 0.2 to 5 BTC tо the address bеlow and gеt frоm 1 to 100 ВTC back!"

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The news triggered an outcry from users who saw the tweet, renewing scrutiny of the social media platform's anti-scam practices.

    The incident is notable given that it involved a verified account but also that the scam information was circulated by way of a promoted tweet. Promoted tweets are paid for and are generally used by advertisers to reach a wider audience than they normally would through their existing network of followers, taking advantage of search trends (in this case, the public interest around the controversial Tesla CEO) to boost performance and visibility.

    Twitter has long faced criticism for the prevalence of giveaway scams. Indeed, Elon Musk's identity has been used in the past by other would-be scammers hoping to parlay Musk's popularity in order to trick users into thinking that he is, in fact, giving away cryptocurrency.

    In August, a group of researchers published evidence of a massive botnet fueling crypto scams on Twitter, utilizing fake accounts to give the appearance that real people were interacting with the giveaway organizers.

    It's an issue that Musk himself is fully aware of, having posted about the issue last month. At the time, he sought help from crypto-community members, including dogecoin creator Jackson Palmer, in an effort to block the scam solicitations from his feed.

    Twitter did not immediately respond to a request for comment.

    Editorial credit: Pe3k / Shutterstock.com

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.