According to a recent tweet by Whale Alert, someone transferred 5 BTC worth a staggering $234,000 in current market price to a verified scam address pretending to be that of Elon Musk .
Other top businessmen like Richard Branson, Bill Gates have seen their faces used to commit fraudulent activities. Even popular brands have also seen their accounts used to defraud the investing public.
In a June.9 report published by Bleeping Computer, several scammers hacked legitimate YouTube accounts and impersonated as rocket company Space X to defraud victims. The hacked accounts were recreated to look like Elon Musk’s Space X, and the fraudsters hosted Bitcoin giveaways for 80,000 who tuned in. Their effort was rewarded with $150,000 coming into their pockets.
Musk has told his viewers to be careful whom they send money to in hopes of getting rich. He also said that Twitter was a viable incubator for these scams to grow.