Scammers are on the rise and this time around their activities affect a significant number of the verified accounts. In their illegal activities, these hackers have impersonated Elon Musk to mislead users about the legitimacy of the accounts. Reports indicate that the hacking of one account has resulted in the loss of about $170,000.

A close outlook

Theses scammers have been quite strategic in their hacking endeavors. They altered the picture and profile name. They changed it to the picture of Tesla CEO Elon Musk. This official had earlier started threads and they noticed that in time.

These scammers posted in this official’s threads. They thought of the move as a good one towards convincing the general public of their legitimacy. The tweets had different messages.

The most outstanding one outlined that the company leader would make a great move. Most of the users believed that Musk would soon be making his largest crypto-giveaway.

The scammers convinced most of the users that great things awaited them. A large number resorted to using Bitcoin expecting the rewards. These scammers made it easy for them to be a part of the giveaway. They provided a link which they used to get into their fraudulent activities.

The turn of events

Reports indicate the scammers had it easy penetrating the set security measures by the company. They just altered a character in the name and the display name remained the same. Twitter took quite long to depict this activity, something contrary to the way it flags others.

The scammers compromised with quite a significant number of accounts. Pathe launches its business operations as a film production firm in the U.K. The recent activities have impacted the account of the firm.

Frank Pallone Jr is an astute politician in the U.K. This politician has also complained about the scammers and the social media provider says it will give an official statement.

One of the reporters working with Daily Beast Lachlan Markay knows quite much about the hack. The official has termed it a Bitcoin Scam since it didn’t have any political motives.