Charlie Lee, Winklevoss Twin Ring the Alarm Over Instagram Impersonation Schemes

For years, scammers impersonating renowned figures in the crypto spheres have been using Twitter for their scamming tricks but have now begun using Instagram as well. Charlie Lee, Litecoin founder, revealed that he has been dealing with an impersonator scamming innocent people of their crypto's on Instagram.

In a tweet, Lee, expressed his frustrations with Instagram, claiming that the network has done nothing to deal with a fake account that has been impersonating him for a while and scamming them.  Lee stated that there could be other phony accounts and Instagram seems unconcerned about the alarms.

Lee explained that despite raising the issue several times with Instagram, that instead of the social network closing the fake accounts, it has done just the opposite. Lee stated that his own Instagram account has been banned for impersonation, rather than the fake account.

Lee is not the only crypto big shot suffering the same dilemma. In a response to Lee’s tweet, Gemini co-founder Cameron Winklevoss stated that he, also was being impersonated on Instagram as well. The one half of the Winklevoss brothers stated that there was a person/profile that was impersonating him and running a crypto scam on Instagram as well.

Cameron likewise expressed his frustrations saying that he had reported it, various friends and associates have also reported the issue but the fake account is still active. Winklevoss called Instagram for help stating; “help would be appreciated!”

Decrypt reports that Twitter has been awash with numerous scams and Lee is no stranger to such incidents. Early last year, the Litecoin founder was at the center of a phony contest in which his name was used for a contest of 180 LTC where participants were asked to donate 0.3 LTC upfront to an address that was given by the scammers.

Issues of fake accounts and scammers have also affected renowned personalities in other industries as well. One of them was Tesla founder Elon Musk where his name was used for various con jobs. Elon’s account was impersonated by scammers who stated that Elon was looking to offer some BTC in an upcoming contest,  but to participate one was supposed to donate some Ether tokens to a given address.

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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