Crypto scammers hijack Twitter accounts belonging to prominent individuals, stealing nearly $1 million
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
- Scammers have hijacked several prominent Twitter accounts in the crypto space, resulting in nearly $1 million worth of stolen cryptocurrency.
- The compromised accounts include those of notable figures such as Cole Villemain, Steve Aoki, Pete Rizzo, and even Peter Schiff.
- Slow response times from Twitter Support have allowed phishing scam tweets to remain active for extended periods.
Recently, a group of scammers has targeted over eight Twitter accounts belonging to notable individuals in the crypto space, promoting phishing scams. According to blockchain sleuth ZachXBT, the group has managed to steal almost $1 million worth of cryptocurrency thus far.
The compromised accounts include Pudgy Penguins founder Cole Villemain, DJ and NFT collector Steve Aoki, Bitcoin Magazine editor Pete Rizzo, and even renowned crypto critic Peter Schiff. The scammers used various tactics, including SIM swaps and potentially exploiting a Twitter admin panel to gain control of the accounts.
Once the scammers took control, they swiftly tweeted out phishing scams. Unfortunately, slow response times from Twitter Support allowed some of these tweets to remain active for hours or even days, exacerbating the impact. ZachXBT emphasized the need for improved security measures and recommended using a security key instead of SMS-based two-factor authentication.
More on fraudulent scams
Last week Cryptopolitan reported that NatWest, a prominent British bank, released its annual Celebrity Scam Super League table, shedding light on the celebrities whose identities are unknowingly exploited by fraudsters to defraud unsuspecting individuals. Peter Jones from Dragon’s Den topped the list, closely followed by renowned naturalist Sir David Attenborough. Holly Willoughby and Philip Schofield, who held the top positions last year, dropped out of the rankings for the first time.
Social media platforms, particularly Facebook and Twitter, have become breeding grounds for scam advertisements. Elon Musk, owner of Twitter, himself falling victim to his image being used in a fraudulent ad that cost a victim £42,500. The prevalence of scam ads on social media necessitates collaborative efforts between regulators, law enforcement agencies, and social media companies to combat this issue effectively.
Although NatWest’s data reveals that these top celebrity scams did not involve digital assets. Instead, fraudsters capitalized on the popularity and trust placed in certain celebrities to deceive victims.
Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Damilola Lawrence
Damilola Lawrence has covered news on crypto markets and tech for over 5 years. He has previously shared crypto insights and analysis for TheShibMagazine, CryptoMode, Qweens Magazine, and The Recording Academy before pivoting into Web3. At Cryptopolitan, he is a crypto price prediction specialist. After finishing a bachelor’s degree, he has segued into a master’s degree in IT Cybersecurity at Maria Curie-Skłodowska University.
