Vertcoin is a P2P cryptocurrency and software project. Earlier, this morning the official Twitter account Vertcoin conceded it is on an attempt to haul out a Bitcoin (BTC) Scam.
On May 1, the twitter account of Vertcoin posted a disclosure that a cryptocurrency prognostic in celebration of vertcoin’s success. The tweet promised to transfer 10 BTC to the winner. It would be announced on May 3 to arrive at the gateway. The fraudsters asked users to send 0.005 BTC to an address which cites in the post as follows:-
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
Soon after the scam tweet was posted Vertcoin’s Lead developer, James Lovejoy cautioned followers that the Vertcoin’s twitter account was compromised. These all giveaways are fake.
— James Lovejoy (@jamesl22) May 1, 2018
Other hacking activities
This kind of hack is a common crypto-scam on Twitter. The hackers possess accounts and provide giveaways which are too good to be true. These posts are escorted by comments from several people who successfully accepted their portion of the giveaway. This particular scam is conspicuous due to the fact that hackers managed to execute their plan from a lawful account.
The hackers have put many efforts to portray major players in the cryptocurrency industry. It has exploited their honor in giveaway scams. In April, scammers possessed the rectified Twitter account Pavel Durov, CEO of Telegram. This is done to endorse a fake giveaway from Pavel’s name. In the month of January, Swindlers impersonated Charlie Lee by utilizing account names which were similar to the founder of Litecoin.