“Chinese Conman” Mimics Maltese Prime Minister to Sell Bitcoin on Instagram Social Media Platform


“Chinese Conman” Mimics Maltese Prime Minister On Social Media

It has been recently revealed that a fake Instagram account was created, in which Maltese prime minister, Joseph Muscat was deemed the account holder. This impersonation, according to Crypto Globe, was done to induce consumers to invest in Bitcoin (BTC).

The account name has since been disclosed as wangwei8976 (https://www.instagram.com/wangwei8976/), where Wang Wei said those interested in making such an investment should seek his assistance. The post has been removed from the social media platform, and news outlet, The Independent, was quoted saying that the entire plan was executed by a “seemingly Chinese conman, who has gone to great lengths to create a fake Instagram profile replete with official-looking photographs.”

One would have deemed this impersonation as real-life, because of the inclusion of the Maltese political party’s official website, partitlaburisti.org. Another reason why the Chinese conman might have considered impersonating Muscat is because of the islands’ and the prime minister’s open outlook on blockchain technology and cryptocurrencies. The island has since gained multiple partnerships in which blockchain startups are accepted with open arms.

Another fake account dubbed, jospehmuscat290 (https://www.instagram.com/josephmuscat290/), has also been removed. What makes this a great issue, is the fact that said accounts hold thousands of followers, namely that Maltese residents and politicians. Whether users turned to Wei for investment advises since the post was published, remains covered.

However, in general, impersonation of crypto CEOs and supporting leaders is becoming an issue. Muscat isn’t the only one to have discovered fake accounts under his name, as the CEO of Tron, Justin Sun was also in a similar situation but via Twitter. Such hackers and scammers try to lure investors with free giveaways and deals that otherwise would not exist, therefore making it something one should ponder prior to giving away account information.

Could this pose a risk to traditional social media platforms? Has the time come to leave the likes of Facebook, Twitter and Instagram behind and turn to a blockchain based platform? Comment below!

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