The New Crypto Trick Lurking on Elon Musk’s Social Media Platform
The Illusion of a Lucrative Offer
In the evolving digital landscape, a purported giveaway of a cryptocurrency token labeled GBTC, echoing the well-known $13 billion Grayscale Bitcoin Trust, stands out as a glaring hoax. This alleged $25 million crypto token offer, circulating on the platform recently rebranded from Twitter, is predictably too enticing to be genuine.
Grayscale Bitcoin Trust’s Recent Buzz
Over the past week, discussions on the platform now named X have been abuzz with one of cryptocurrency’s trending topics: the Grayscale Bitcoin Trust (GBTC). Thanks to a recent legal triumph, this trust might soon transition into a sought-after traditional investment tool, the ETF.
A Dubious Proposal Gains Traction
Central to the online chatter is a bold assertion: $25 million of a fresh token, GBTC – bearing the same ticker as the genuine $13 billion trust – is up for grabs for those visiting a specific site promoted in the posts.
The Scam Unveiled
However, there’s a twist. The account touting these lofty promises, identified as @Grayscale_FND, holds no affiliations with the authentic Grayscale establishment. This misleading correlation was debunked by an official Grayscale representative, firmly establishing this enticing offer as a blatant scam.
Verifying Authenticity in the Post-Twitter Era
In the era before Elon Musk’s acquisition and subsequent renaming of Twitter to X, a blue checkmark beside an account’s name signaled its verified status, assuring users of some level of scrutiny and endorsement. Today, this iconic blue badge merely indicates a user’s ability to shell out $8 monthly, resulting in an alarming surge of deceptive crypto cons using verified X accounts.
For clarity, the legitimate @Grayscale account on X showcases a gold checkmark – an emblem exclusively for corporate entities and similarly “official” bodies. To steer clear of falling prey to such deceits, X’s patrons must acquaint themselves with these fresh verification nuances. However, the imitation game is so spot-on that even seasoned observers can be ensnared.
The Red Flags
The deceptive posts of @Grayscale_FND caught the attention of a CoinDesk journalist when an unidentified user flooded him with these scam promotions on X. Further intensifying the mystery, @Grayscale_FND is not open to direct messages from unfamiliar accounts, rendering communication with its mastermind impossible.
Affiliations and Stakeholders
Intriguingly, both Grayscale and CoinDesk are subsidiaries of the influential Digital Currency Group. Attempts to elicit comments from X’s media liaison returned a succinct response: “Occupied at the moment, please revisit later.”
Navigating this sophisticated realm demands vigilance, knowledge, and an ever-watchful eye. As the crypto universe advances, so do the tricks of those looking to exploit it.
