Summary: A fake Twitter account claiming to be associated with Grayscale Bitcoin Trust (GBTC) is promoting a fake $25 million cryptocurrency giveaway. The account, @Grayscale_FND, tricks users by using the logo of the real Grayscale account and a blue checkmark. This highlights the rise of crypto scams on the social media platform formerly known as Twitter, which is now called X. Despite a recent court victory potentially converting GBTC into an ETF, there is no legitimate token called GBTC and the offer is confirmed to be a scam.
Crypto scams have become increasingly prevalent on X, with scammers taking advantage of the platform’s new verification system. Previously, a blue checkmark indicated verified accounts, but now it only signifies that the account owner pays for a monthly subscription. This has allowed scammers to easily obtain blue-checked X accounts and deceive users.
In the case of @Grayscale_FND, the account not only uses the logo of the legitimate Grayscale account but also replicates its account details. This makes it difficult for users to distinguish between the real and fake accounts, leading them to believe the scam is legitimate.
The fake account has been spreading its scam posts, targeting users interested in the Grayscale Bitcoin Trust. However, users are unable to directly message @Grayscale_FND since the account only accepts messages from accounts it follows. This further adds to the difficulty of reaching out to the account owner and reporting the scam.
It is important for users to be aware of these scams and be cautious when engaging with cryptocurrency-related posts on X. The real Grayscale account, @Grayscale, has a gold checkmark designation, indicating its legitimacy. Users should also verify any cryptocurrency giveaways or promotions through official sources before participating to avoid falling victim to scams.
Sources:
– X
– Grayscale spokesperson
Definitions:
– Grayscale Bitcoin Trust (GBTC): A trust that allows investors to gain exposure to Bitcoin without directly owning it.
– ETF: An exchange-traded fund is a type of investment fund and exchange-traded product with shares that are traded on a stock exchange.
– Scam: A fraudulent scheme designed to deceive people, typically with the goal of acquiring money or personal information.
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