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Bitcoin scam touting free Tesla nabs more than $20k

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An entire Bitcoin was just one of the transactions the scammers got away with

As reported by Decrypt, another “free giveaway” has managed to entice one of its victims into sending scammers an entire Bitcoin (BTC). The scam purported to offer a free Tesla in exchange for sending currency to their listed address. Victims would send funds to an address to become eligible. From Scam Alert’s last update as of 2:40 PM UTC, the address associated with the report has already accumulated more than $20k. The giveaway website created in October 2020, which has no official association with Tesla, has since been taken down.

Having accumulated over 1.9 BTC ($21,719), the account has 25 transactions averaging $868 each. Spanning five days, the account shows the first transaction appearing on 10th October, and the final transaction appearing on the 14th of October. All transactions so far have been incoming with no other activity.

bitcoin
Source: ScamAlert

Take precaution

Security in financial assets is essential. Even those who consider themselves finance experts can be influenced, and not every situation will turn out how it looks initially. Social media platforms like Twitter have been commonplace to see scams such as these arise. By using the platform’s visibility, scammers can direct victims to fictitious websites, Telegram channels, and wallet addresses. Acting as the voice for many companies to connect with their followers directly, twitter can allow scammers to emulate official sources and individuals to add credibility to the scam. By offering something in exchange for sending currency, the victim’s greed becomes the motivating factor.

It is always recommended to check official sources and media outlets. With the offer of free tokens, airdrops, and more coming from legitimate sources, it can be possible that some offers are real. As companies continue to use this avenue to reach new markets, it illustrates the importance of doing the appropriate research.

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