Vertcoin official twitter account is said to have been compromised earlier today in what was an attempt to do a Bitcoin-related scam. Vertcoin is a peer to peer based digital currency and also a software project.
On 1st May, there was an announcement on Twitter from Vertcoin in regard to the cryptocurrency giveaway due to the Vertcoin celebration of their success. Therefore, the tweet said that they would transfer a total of 10 BTC to the winner. This was to be announced on May 3. In order to enter to the specific give away, the fraudsters told the users to transfer a total of 0.005 BTC to the requested address in the post;
Hey, everyone! Vertcoin and staff are pleased to announce that we’re doing a 10 BTC giveaway to our followers to celebrate Vertcoin’s success. Send 0.005 to 3HU5sj7kB6wT9zRwpbhCRrR28vKWjfkMKf enter! Winner will be announced 5/3/18 at 8 pm EST.
— Vertcoin (@Vertcoin) May 1, 2018
Almost at the same time, this can tweet was carried out, James Lovejoy who is Vertcoin’s developer issued a warning to the Vertcoin followers that the account was compromised and said that the giveaway was fake.
On Twitter, this kind of hack has been common where hackers are involved in the impersonation of the accounts and also offer giveaways which are too good to be real. These kinds of posts have various people comments who “Successfully” received their giveaway portion. Therefore, this is a notable scam because the hackers managed its execution from the real account.
Various hackers have been involved in a tone of attempts geared towards impersonation of the major cryptocurrency industry players. They, therefore, seek to exploit the reputations for the giveaway scams. In April, hackers are said to have impersonated telegrams CEO verified twitter account, Pavel Durov, in the quest for the promotion of a fake giveaway. Additionally, in January, fraudsters also impersonated Charlie Lee when they used names which were the same as the Litecoin creator.