Vertcoin, a software project, and peer-to-peer digital currency official twitter account hacked earlier today by a hacker in order to carry out a Bitcoin (BTC) scam.
On 1st May 2018, Vertcoin’s official Twitter account posted an announcement of a Bitcoin giveaway for celebrating Vercoin’s success. The hackers asked users to send 0.005 BTC to an address and promised to transfer 10 BTC to the winner.
James Lovejoy, Vertcoin’s Lead developer warned its followers that all the giveaways are fake and the tweet is posted is a scam.
Scams like these are very common on Twitter and hackers often announce giveaways that are too good to be true. These scams are common and sometimes users fall into such traps because it is executed from a legitimate account.
Fraudsters have made several attempts to impersonate large players in the cryptocurrency industry and often exploit their reputations in the industry. In April 2018 hackers impersonated the Twitter account of Pavel Durov the CEO of Telegram to promote a fake giveaway. Charlie Lee, the founder of Litecoin was impersonated in January using account names which were similar.