Bitcoin scammers have reportedly stolen $2 million worth of BTC in the past two months by digitally impersonating Tesla CEO Elon Musk.
Justin Lister, CEO and founder of cyber-defense firm Adaptiv, compiled a list of Bitcoin “vanity addresses” using Musk’s name since late April, ZDNet reports. The vanity address includes a recognizable name within the actual address to increase the perceived legitimacy of the scam.
An obvious example of a vanity address is “1muskPsV7BnuvMuHGWmmXUyXKjxp3vLZX6.”
Lister put together the list with the help of BitcoinAbuse, a website that tracks Bitcoin addresses used by ransomware, extortionists, and fraudsters. The CEO of Adaptiv found 67 vanity addresses of Elon Musk which collected a total of 214 Bitcoins from the victims. A treasure worth nearly $2 million at the time of writing, according to CoinMarketCap.
ZDNet reports that scammers tend to hack into YouTube accounts that many people follow. As well as changing their name and image to imitate a famous person or brand, and then sharing their vanity address via live stream.
The victims were tricked into sending BTC to a vanity address that was broadcast based on a false promise that their crypto would be multiplied/multiplied.
To further cover their duplicates. Scammers often set up their live streams with real/real events related to the celebrity or brand they are impersonating.
Since Musk’s private spaceship company, SpaceX, successfully launched a manned crew into space at the end of May. Many scammers have pretended to tie their Musk or SpaceX-related giveaway scams to the event.