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Scam Alert: Elon’s X Users Targeted in $25M Crypto Scam

Elon Musk’s social platform, X (formerly Twitter), falls victim to a $25 million crypto scam disguised as a fake giveaway.

Claudia Fischer




The people registered on the social platform of Elon Musk named X (formerly Twitter) have become the victim of a big crypto scam.  X users had to suffer at the hands of scammers as the scam was carried out under the veil of a fake giveaway of 25 million. On the 8th of September, the crypto scam worth $25 million was brought to light in which scammers fooled the X users.

How Elon’s X Users Were Scammed?

A new account posed itself to be Grayscale Investment and targeted X users. Masqueraded Grayscale engaged people by calling a fake token named GBTC (Grayscale Investment Bitcoin Trust). On sellout over social media, scammers rolled out $25 million on the token GBTC.

Also Read: Crypto Scams, Hacks, and Exploits Drained $1 Billion This Year, Says a Report

The scammer called GBTC the novel token worth of at least $25 million. And, assured that the ticker symbol worth $13 million will be attributed to those who visited their website previously. It is important to note that, legitimate identity Grayscale Investment have disavowed any sort of connection of link to @Grayscale_FND. Currently, the account is removed from the platform and authorities are informed and asked to do the needful.

How Scammer Deceived the People?

Scammers created a fake account @Grayscale_FND and got a subscription to Twitter Blue (X Blue now). In that way, the account was displayed with a blue checkmark which was formerly considered to be the registered and verified account. Previously, this blue mark had few certain merits but now anyone can get that by paying $8 per month to the platform.

Also Read: US Judge Dismisses the Case Against Uniswap Over Tokens’ Scam

Imposters even used the official logo of Grayscale to deceive people who couldn’t distinguish the checkmark colours of the original and the fake ones. Grayscaly account is basically marked with a golden checkmark which is assigned for companies. Scammers took advantage of the differences and scammed people and carried out a crypto scam worth $25 million.

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