Crypto Scams on Twitter Can Bring Up to $100k in One Day

twitter scams

Crypto scammers are getting more and more inventive and come up with new ways to fool people and security systems. A cryptocurrency expert Adam Guerbuez had a unique chance to talk to a real Twitter scammer and find out about the peculiarities of their “job”.

In his interview, Guerbuez mentioned that scammers mostly work in small groups, although the vast majority of things is handled in an automated mode. The main thing to do is to avoid the Twitter security protocol which deletes bots. Bots do not even have to be verified accounts since the naive Twitter users don’t even pay attention to it.

Afterwards, everything goes quite easily, scam messages are sent out to people, Ethereum wallet addresses are generated, and the money is transferred there. According to an anonymous scammer, the only thing done by people is the conversion of crypto into fiat. 

The illegal actions usually bring ridiculous amount of money to the fraudsters: from 50 to 100 thousand dollars a day.

We have compiled for you a selection of the loudest crypto scams involving Elon Musk, Pavel Durov, Vitalik Buterin, Bittrex and adult sites.

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Swedish Scammers Try to Sell Fake National Cryptocurrency

The main bank of Sweden, Riksbank, is warning its customers and all citizens of the country about the scam cryptocurrency roaming around – a fake e-krona.

On certain websites and in social media, false information is circulating claiming that the Riksbank is selling e-kronas,” is stated on the official site of the bank.

In fact, the project of launching a state-run digital currency appeared back in 2017. This is due to the fact that less and less Swedish people are using physical money when buying things.

Experts say that by 2025 half of all establishments in the country will stop accepting cash.

Meanwhile, the official project of e-kronas is still in the making, a lot of things have to be finished, thus, the Swedish cryptocurrency will not come out any time soon.

Riksbank warns that any person who claims to be selling e-kronas, especially on behalf of the bank, is a fraudster.

We remind you:

The Most High-Profile Scam Projects of 2018

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The UN Will Use Blockchain to Develop Healthcare in Africa

The United Nations division, the Office on Drugs and Crime is going to cooperate with the blockchain company doc.com in order to provide free and accessible healthcare and medical services in the Eastern regions of Africa.

Doc.com is a company that specializes In telemedicine and telepsychology. It uses blockchain to let the customers exchange their personal data for tokens, which will open access to various healthcare services.

The company is functioning in over 20 countries with around 130 thousand customers. The United Nations has been researching the ways to use blockchain for humanitarian causes, thus, this collaboration might become the salvation for poor African countries.

We remind you:

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

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Bithumb Won the Trial in the Case of a Major Crypto Attack

As reported by the Korean subdivision of CoinDesk, a customer of the South Korea-based cryptocurrency exchange Bithumb suffered a tremendous money loss at the end of 2017 due to a hacker attack.

Back in November of 2017, the hacked victim placed 478 million Korean won (426,600 dollars) to his account at Bithumb. Only a couple hours later, an unknown hacker broke into his account, exchanged the money to Ethereum and stole it. As a result, the poor Bithumb user was left only with 11 cents at his account.

In the attempt to bring his funds back, the victim tried to sue Bithumb. However, the exchange management used the Electronic Financial Transactions Act, according to which the exchange is not a financial company, thus, it is not responsible for the hacker attack and money loss. The court found Bithumb innocent.

We remind you:

Bithumb Outruns BitMEX in the Crypto Exchange Battle

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Bitcoin’s Lightning Network Is Growing: 500 BTC Has Been Passed

The Lightning Network of BTC, which is an emergency measure aimed at solving the problem of scalability is growing by leaps and bounds, passing more and more milestones on its way.

We have already reported about the previous successes of the Network:

Lightning Network of Bitcoin Blew Up: A 1600% Increase Since Last February

Today we have more exciting news. According to the data from 1ML, the Lightning Network has passed the point of 500 BTC in capacity, which is worth more than 2 million dollars. The number of available nodes has also skyrocketed. It is now 25%, which almost twice as much as it used to be before.

The Lightning Network is developing technically and gaining more popularity. In the recent couple of months, it has truly skyrocketed, judging by all the statistics.

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USD Might Soon Be Replaced by JPY as the Most Popular Currency Traded with BTC

When we talk about crypto to fiat trading or vice versa, in most cases we will refer to US dollar and Bitcoin, since these two are clearly the most popular options. However, USD might soon lose its leadership as the prime choice of BTC traders.

Japanese yen has always followed closely, being the second most popular fiat currency of crypto/fiat transactions. However, recently it has started to gain popularity at a high pace. According to the platform CoinHills, USD currently accounts for about 48% of transactions with BTC, where as the share of JPY is a bit more than 47%, which make it pretty much a tie.

Many experts now state that the Asian crypto market has really stepped up its game and now has a bigger influence on the industry than America and Europe. More and more traders are turning to JPY as a means to purchase crypto.

We remind you:

Japanese Crypto Exchange GMO Coin Resumes Trading BCH, Namely ABC Version of Bitcoin Cash

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Crypto Exchange Binance Added XRP As A Base Currency

Binance has posted an announcement stating that it has added Ripple’s coin as a base currency on the exchange. From now on, Ripple can be used to make purchases of other crypto listed on the platform. Binance allows users to enjoy the TRX/XRP (Tron) and XZC/XRP (Zcoin) pairs.

Let us look at XRP situation on the market:


Source: CoinMarketCap

The CEO of Binance, Changpeng Zhao, gave a hint at planning to make Ripple a primary asset earlier. The Ripple community had been waiting for this since then. Some Twitter users, called “C3|Nik” and “izombieXRP”, even asked him to do this, though Mr. Zhao did not respond to them.

Several days later, Zhao made an official statement via Twitter:

Even though some small crypto exchanges have already added Ripple with altcoins, but a top cryptocurrency exchange has made it for the first time.

We remind you:

Eight Blockchain Projects To Be Launched By Binance Labs To “Create A Strong Blockchain Ecosystem”

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