Hackers are using Kevin O’Leary’s Twitter account to promote crypto scams

Hackers are using Kevin O’Leary’s Twitter account to promote crypto scams

A worried person in an office leaning his chin on his hands.

Image source: Getty Images

What happened

The Twitter account of Kevin O’Leary, aka Mr. Wonderful of Hai tank fame, @kevinolearytv, appeared to be hacked by crypto scammers on Thursday. It sent out several now-deleted tweets about a crypto giveaway of 5,000 Bitcoin (BTC) and 15,000 Ethereum (ETH), although the accompanying image listed 5,000 ETH. The links to these giveaways prompted respondents to send their own cryptocurrency funds first to verify their wallet address.

These scams usually involve a fake Twitter account pretending to be the celebrity in question. In this case, hackers were able to gain access to O’Leary’s real account and send out a series of tweets. This included a tweet saying: “My accounts were not hacked! Last night I said on TV I was going to do a giveaway. Enjoy,” as recorded by Jordan Major of Finbold in an early report of the hack.

So what

Earlier this year, crypto fraud losses since 2021 reached $1 billion. Cryptocurrency scams are common, and as more people have started investing through crypto apps, scam reports have skyrocketed.

Discover: The best places to buy bitcoin

More: Check out our updated list of the best crypto apps, including one $100 crypto bonus offer

Crypto scams target unsuspecting people, and you could be one of them. A crypto giveaway scam, like the one discussed here, is a popular type of scam designed to trick people into sending scammers their cryptocurrency. Scammers impersonate an online celebrity, usually choosing someone associated with crypto, such as O’Leary. They send messages claiming to be holding a giveaway for anyone who wants to enter. The link to the “giveaway” includes a crypto wallet address, instructions for sending money to verify your own address, and a promise that you will get double or more in return.

See also  Can I use the same WhatsApp account on 2 phones?

Scammers keep all the cryptocurrency they are sent as part of the supposed address verification and never send anything back. Since cryptocurrency transactions are irreversible, victims have no way to get back the money they send.

What now

If you own cryptocurrency, or you plan to buy some, it’s important that you know how to protect yourself. When you send your cryptocurrency to another wallet, it’s gone. There is no way to dispute the transaction and have it reversed. Cryptocurrency does not have the protection of traditional financial products, such as credit cards or bank accounts.

Our best crypto game isn’t a token – here’s why

We’ve found one company that has perfectly positioned itself as a long-term pick-and-spade solution for the broader crypto market – Bitcoin, Dogecoin and all the rest. In fact, you’ve probably been using this company’s technology for the past few days, even if you’ve never had an account or even heard of the company before. That’s how widespread it has become.

Sign up today for Equity advisor and get access to our exclusive report where you can get a full overview of this company and its upside as a long-term investment. Learn more and get started today with one special discount for new members.

Got started

Never send cryptocurrency to unknown wallet addresses. Only transfer cryptocurrency to your own wallet or to someone else if you personally know the recipient. Also make sure you have the correct wallet address. Any mistake can cause the transmission to be sent to the wrong place and lost forever.

See also  LastPass, a world famous password manager hacked: Full details

Also, understand what you should and shouldn’t share about your crypto assets. You don’t want to give out a credit card number, address and security code to a random website, nor should you give out details about your crypto holdings.

Remember that if your credit card is hit by fraud, you usually have an ally in the financial institutions that support your card. That is not the case with crypto. Don’t be fooled by crypto gifts, no matter who announces them. It’s OK to be skeptical, and if it seems too good to be true, it probably is. The fact that hackers were able to share a scam through O’Leary’s Twitter account is another sign of how careful you need to be.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *