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Technology Tesla CEO Elon Musk warns Twitter followers about Bitcoin scams: 'This is not cool.'

02:05  04 february  2020
02:05  04 february  2020 Source:   usatoday.com

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Tesla CEO Elon Musk warns Twitter followers about Bitcoin scams : ' This is not cool .' Elon Musk is warning his Twitter followers to be aware of online crypto scams . Scammers have taken over legit Twitter accounts and transformed them to look like Musk 's and get Twitter users to turn

Elon Musk has raised concerns about the "dire problem" of cryptocurrency scams on Twitter . The Tesla CEO has been consistently targeted by This is not cool ," he tweeted to his 31 million followers . "Troll/ bot networks on Twitter are a dire problem for adversely affecting public discourse

Elon Musk is warning his Twitter followers to be aware of online crypto scams.

Scammers have taken over legit Twitter accounts and transformed them to look like Musk's and get Twitter users to turn over bitcoin or other digital cryptocurrency for what they think is a business opportunity.

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The scam involved unknown hackers taking over verified Twitter accounts and then changing their display names and profile images to imitate Tesla CEO Elon Musk ’s account. The two Democratic members of Congress who were apparently hacked are up for re-election on Tuesday.

Elon Musk says Twitter briefly blocked him because the tech firm suspected his account had been hacked. The Tesla chief indicated the safety precaution was prompted by a tweet he had sent asking: "Wanna buy some Bitcoin ?" Several fake accounts have previously used images of Mr Musk and

"The crypto scam level on Twitter is reaching new levels," the CEO of Tesla and SpaceX tweeted Saturday. "This is not cool."

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It's not a new phenomenon. A November 2018 report by The Independent found that scammers had taken in hundreds of thousands of dollars "posing as Musk" with some people sent more than $6,000 to scammers.

The Independent found that several verified Twitter accounts – publisher Pantheon Books among them – were hacked and made over to look like Musk's Twitter account. Then the hackers sent out a tweet to initiate the scam: "I'm giving 10 000 Bitcoin (BTC) to all community!" I left the post of director of Tesla, thank you all for your support," the Independent said the hacked Pantheon account posted.

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In a lighthearted tweet , Elon Musk referenced Bitcoin in a tweet yesterday in response to a Twitter user. He also tagged his girlfriend Grimes in the tweet , who is a successful Canadian singer and songwriter. Twitter momentarily locked the Tesla founder’s account, as well, believing that his account.

Scam bitcoin and ether giveaway bots have started to target the accounts of high profile figures outside of the crypto community, such as SpaceX and Tesla CEO Elon Musk , and US President Donald Trump. Scam Bots Plague Twitter For over a year, scam bots on…

Elon Musk wearing a suit and tie: In this file photo taken on July 19, 2017 Elon Musk, CEO of SpaceX and Tesla, speaks during the International Space Station Research and Development Conference at the Omni Shoreham Hotel in Washington, DC.© BRENDAN SMIALOWSKI, AFP/Getty Images In this file photo taken on July 19, 2017 Elon Musk, CEO of SpaceX and Tesla, speaks during the International Space Station Research and Development Conference at the Omni Shoreham Hotel in Washington, DC.

Evidently, a new scam invoking Musk was found recently – it appeared that Twitter had suspended the account – and that led the entrepreneur to speak up Saturday, basically invoked the concept of caveat emptor ("buyer beware") for his Twitter followers.

"Report as soon as you see it," Musk posted. "Troll/bot networks on Twitter are a 'dire' problem for adversely affecting public discourse & ripping people off."

Back in September 2019, Twitter said it was increasing its focus on fighting financial scams on the network.

The problem goes beyond just finances, Musk told Twitter CEO Jack Dorsey during a Twitter employee gathering three weeks ago.

The social network needs to provide more feedback to users to help them know the entity they are interacting with is "a real person versus someone trying to just game the system," Musk said in a videoconference in Houston, reported on by Bloomberg and chronicled by a video posted online.

"What are people actually upset about versus manipulation of the system by various interest groups and there are many such groups," Musk said.

Another voice who has complained about cryptocurrency scams is Vitalik Buterin, the founder of blockchain network Ethereum. "DON'T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER," he tweeted nearly two years ago.

This article originally appeared on USA TODAY: Tesla CEO Elon Musk warns Twitter followers about Bitcoin scams: 'This is not cool.'

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