Crypto Twitter Scam Bots Re-Enter The Market Once Again Due To The Larger Interest in Bitcoin

• Scammers are trying to steal users’ funds by promoting fake giveaways
• This is a similar strategy as the one used in 2017 by many scammers

As the cryptocurrency market continues to expand, it seems that new scammers are trying to take advantage of the renewed interest in Bitcoin (BTC) and other virtual currencies. One of the most popular platforms for scammers to steal users is Twitter, which has a large crypto community.

Scammers Enter The Market Once Again

There are several fake accounts and bots on Twitter that tend to impersonate other individuals or companies trying to attract new investors or newcomers to space. One of the best ways they have to gather funds is by promoting a fake giveaway in which they claim Binance or another major crypto exchange or figure is giving a prize or coins away.

In the most recent attempt to steal users’ coins, fake accounts promoted the celebration of the second anniversary of the crypto exchange Binance. Although the celebration existed and Binance is turning two years, these scammers were lying with their promises. Some of these accounts were even taking a fake screenshot of several figures backing the promotion.

These accounts mention fake websites in which they promise to multiply users’ funds if they deposit their Ethereum (ETH) – or other coins – in the addresses they provide.

Back in 2017, there was a massive intrusion of scammers in the crypto market, and many individuals were able to understand how to deal and avoid these situations. This is why it seems that these new attempts to steal users’ funds would be just not as effective as they were in the past. Back in 2017 and 2018, individuals such as Vitalik Buterin or Charlie Lee were impersonated.

Many Twitter accounts have already warned the community about these new attempts of scammers to steal users’ funds.

These freaking ETH scam bots are getting on my nerves again.
What's this? 2017?

— Squeeze (@cryptoSqueeze) July 13, 2019

Bot scammers are back. My Twitter account is since yesterday the target of bot scammers. I don't sell anything nor participate of any giveaways. Don't fall for scams. Please report scammer accounts if possible.

— Alex Krüger (@krugermacro) July 9, 2019

https://twitter.com/PeterLBrandt/status/1150480610525188096

At the same time, in 2017, there were several Initial Coin Offering (ICO) projects that were just created to steal users’ funds and run away with the investment. These exit scam became something common in 2017 and the beginning of 2018.