Twitter Verified Scam Accounts Busted for Duping Investors During Ethereum Merge

The publicity around the Ethereum Merge has fascinated a throng of phishers who are using verified Twitter accounts and sites to dupe investors.

At least forty-five “Ethereum merge double your money” scammers have been nailed for promoting dubious drives on Twitter with links pointing to phishing websites claiming they will double investors’ money and give bonuses to their wallets if they participated in the campaigns.

A list provided by a whistleblower on Twitter reveals that scammers took advantage of the Ethereum Merge to lure investors into connecting their crypto-wallet and are aggressively excited to cover their illicit transactions using verified profiles.

Sites identified as leading scams said, “To celebrate the merge, Ethereum foundation is giving away 5,000 ETH” with links to various accounts that invite people to send out ethereum with the promise that they will receive twice as much in return. 

Scammers are impersonating accounts.

The fake accounts and sites monitored by BeInCrypto are currently down, and it’s unclear how much they were able to steal by impersonating other people. Once clicked on, they read, “If you are the owner of this resource, then to resume the site, you need to renew the hosting service. If the suspension of the site is caused by a violation of the terms of the Subscriber Service Agreement, then to resume work, you need to contact the Support Service. We will be happy to help you.”

Following a whistleblower, Investors have been wrestling Twitter with its verification problem for years and questioning why they wouldn’t take action when such scams happened, given the weirdness happening with duplicates of links using credible Twitter accounts.

Scammers using Twitter to steal cryptocurrency.

Twitter is aware of crypto scams, and the Ethereum scam is not something new. In April, Elon Musk said Twitter has many crypto scams. Whenever someone famous tweets, their comment section is quickly inundated with messages from bot accounts about a fake crypto-giveaway. These scams are malicious links designed to steal crypto wallets in the lure of getting profitable from developments.

As the crypto industry grows, scammers are determined to access wallets and rob their digital assets from users. In the past, Hackers hijacked verified and unverified accounts on Twitter to impersonate popular NFT projects, including Bored Ape Yacht Club (BAYC), Azuki’s, Moonbirds, and Okay Bears, to steal users’ crypto assets by driving them to phishing sites.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

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