How to Protect Yourself from Fraudulent Bitcoin Giving

[pixie85]

Piece of cake

USE LOGIC!

Why would you send in first position to someone 1btc to get a 2btc? 

I am shocked who people believed and sent money.

Please beware of such scams

They make it look like they're investing or trading it and they will do some mumbo jumbo with your coins to make more of them

Long ago when the understanding of blockchain was much lower they used to scam people by selling them mining programs and "blockchain hacking software" that was supposed to piggyback on transactions and split some of them to make some coins go to your pocket every minute.

Scams are as old as humanity.

[GDragon]

This is the very problem of the majority.
Even cryptocurrency or non-cryptocurrency. Most of the people who fall for these kinds of frauds are those people who want easy money or those people who really don't have any idea, but we can't blame there, but we should educate.
It's just hard sometimes, especially on my experience before when I tried to educate my friend, that I am telling that giveaway he mentioned is fake for me, he didn't believe to me.

Its really irritating though, same thing happened with me. They don't want to believe us cause they are already immerse in having that FREE money, when the times comes that they already lose their own money, or when they already realize it ain't true. They will already see btc or crypto as a scam. So the image of bitcoin suffers. The problem is them not educating themselves, or them not trying to listen first.

Same with elections too, a lot of people will vote for money. They thought a politician is deserving when they gave them FREE money. Especially in a third world country. I don't even understand it, its just a simple logic. A simple use of their sense of humor can do, if they have one.

[DoubleEdgeEX]

First and foremost, if it sounds too good, it high likely is. The problem is, those scam artists exploit the peoples hopes and greeds, mostly targeting those who are already struggling with financial issues. It´s like kicking someone who is already lying beaten and bruised on the floor. That´s why education is so crucial, not only in the crypto world but outside as well. Unfortunately there are so many gullible people out there that it make sense for the scammers to come up with the most outragous storys, if just 1 out of 10.000 fall for it, they won.

Btw, question to the community: I get many BTC mining scam messages recently on Instagram and even more on Linkedin. Anyone similar experiences?

[Eugenar]

Hacking is always there, they commonly do target those big people because of thinking that they could steal a lot of money from them.

Do not fall for the bitcoin giveaways especially if you are the one who will give first before you gain money, that is a big no, you should not easily trust those people or websites that is something like that. Always be vigillant and always assess the situation.

[Gotumoot]

Deception in the guise of Bitcoin is spreading. The most recent and most extensive case is through hacking of a number of famous celebrity Twitter accounts on Wednesday, July 15, 2020. Hackers offer a Bitcoin giveaway from those accounts. So, what are some ways to protect yourself from this mode of crime?

The perpetrators may launch social-based attacks (social engineering) against Twitter employees. Hackers access Twitter's internal systems and devices, and thus successfully tweet the Bitcoin giveaway.
For example the Kanye West account which was also hacked. The famous US musician is "tweeting" he will duplicate the Bitcoin sent to his Bitcoin address. With common logic, it is unlikely that anyone would give free money in the form of Bitcoin, without any veiled intentions.

No one will give you free money, not even Bill Gates. If it sounds too sweet, then it's certainly not true, especially in cyberspace.

They should only try to know why those so called project are giving up some money and if those so called freebies need to be paid first.
If they are giving out why would you need to pay for it? They just need to use their common sense at all to avoid being scammed by this type of schemes.

[thesmallgod]

Alot of people that fell for Scam like this are newbie who got btc but never take time to study what it is. of course, I know people believe so much in an influential people but when you check this giveaway links, you will realize the same script which has been recorded so many time as a scam is being used. if Obama want to give anything, it will be in form of donations and not requesting for funds from people. It is painful to keep seen people falling for this scam even up to this present moment

[ufaiz50]

So the point is do not easily trust someone, because they have a hidden intention and end up deceiving you. This deceptive technique has been used for a long time by many people, the advantages are they successfully hack a famous person's Twitter account and it can convince people. From some people I know become victims and the reason is because there might be events or challenges because they come from famous people's accounts.

[LogitechMouse]

~

It is easy to say but unfortunately, maybe this is a harsh word but there are some "DUMB" investors out there who are still believing in this kind of scams.

Bitcoin Giveaway?? Who in the hell would do it?? For what reason they will do it if it is legit?? These are just some of the question that you can ask to yourself if you see a Bitcoin Giveaway like this. Even though it came from a popular one like Elon Musk or Justin Sun A.K.A. Shitcoin Owner, it doesn't matter if you are knowledgeable enough which are scam and which are not.

Quite unfortunate that there are still newbie investors who fell into this trap. Lucky that Coinbase prevented these investors to send Bitcoin to the address.

[carriebee]

Mostly newbies are the victim of these fraud from bitcoin giveaways. You know mostly attracted for easy money just like a Ponzi scheme. They like a return of profit in an easy way, the most that we can do is to avoid this kind of fraud. Never trust easily that's what we can do these days.

[spike420211]

It is obvious that in the world of consumption and private property, people who have earned their fortune by their labor would prefer to finance some kind of start-up, rather than simply handing out money on the "Internet streets".
It doesn't make any sense.

They would rather spend money on charity than handing out money to those who already have it. After all, in order to receive, you first need to send.

[Review Master]

No one will give you free money, not even Bill Gates. If it sounds too sweet, then it's certainly not true, especially in cyberspace.

OP forgot to mention "Satoshi/CryptoWhales"  . Just kidding, it's all about greed because all those hackers not only social engineering to hack any channel/account, they also do that with the users of that platform. As a result, all those users get trapped into their plans who eager to make money without doing anythings. So, it's better for all to control our greed than start thinking about that with logics, IMO.

[20kevin20]

Mostly newbies are the victim of these fraud from bitcoin giveaways. You know mostly attracted for easy money just like a Ponzi scheme. They like a return of profit in an easy way, the most that we can do is to avoid this kind of fraud. Never trust easily that's what we can do these days.

Newbie or not, common sense is the first thing you have to help you out and detect a pretty obvious scam.. Considering the usually low amount of people actually giving these addresses BTC, I would rather think the victims are mostly older people who think anything that exists on the internet is real and legit.

[yazher]

Most likely people get excited when they see those celebrities tweet about BTC and often took the bait of the scammers. The tweet leads to the loss of money of the others where they thought the tweet of the known people was true and legit. This is why we should think about it first before making any moves regarding that kind of post because no matter who's gonna say it, it doesn't make any sense when a person told you to double your money without even doing anything to him in return. This hacking incident may serve as a lesson to be vigilant next time we see this kind of post.

[ChiBitCTy]

You haven't really provided ways to protect yourself against Fraudulent Bitcoin giveaways as your title suggests, but you're right in the sense that if it sounds too good to be true, it likely is.  The same goes for any cryptocurrency for that matter.  If I project is doing an air drop even, that just means it has little leg to stand on otherwise they wouldn't be giving away free coins.

[jademaxsuy]

You haven't really provided ways to protect yourself against Fraudulent Bitcoin giveaways as your title suggests, but you're right in the sense that if it sounds too good to be true, it likely is.  The same goes for any cryptocurrency for that matter.  If I project is doing an air drop even, that just means it has little leg to stand on otherwise they wouldn't be giving away free coins.

well, the user just gave an idea to the possibilities of this hacker that might use social media to scamming. OP has mention regarding on the accounts of celebrities that could be use for scamming. Yes there is a big possibility that this will going to happen but I think since news is fast I think many are already aware of it that these social media accounts of celebrities can no longer be use in scamming.

[Twentyonepaylots]

Frauds are everywhere, they exists even offline but since we are in the online world it is inevitable process that many fall for that mischief acts and many people grab that easy quick money giveaways or double scheme just what happened in the latest incident that involved many famous accounts were hacked and were used to scam people in the internet specifically on twitter crypto community.

Scams are clicking because there are clickers, if all people will be as aware as a knowledgeable person then scams won't work anymore, even how hard the scammers will try. The main reason why online scams are still working is because of people who sees an opportunity in it without prior knowledge to it because they are blinded with the money as promised. Perfect example is the incident that happened in twitter, though it is an obvious scam a lot of people did fall for that one.

It's best always stay vigilant not to engage quickly on bogus giveaways and always asked second opinion to some friends that knows more about it. Importantly educate always on things that are not familiar and always not to click suspicious links.

Personally after learning in a while, I already quit hoping for an easy money online, I quit engaging with it even the airdrops.

[sakurro]

Just having basic common sense and stepping away from the situation to see the whole picture will help a lot.

Take some time and observe. Think.

People just need to think a little more about what they're doing.

[carlisle1]

Most likely people get excited when they see those celebrities tweet about BTC and often took the bait of the scammers. The tweet leads to the loss of money of the others where they thought the tweet of the known people was true and legit.

Just like what happen recently?when the prominent people/celebrity's account are hacked and use for solicitation here in crypto world?lucky that they only gather small amount of crypto from the victim  who willingly help the politics.

This is why we should think about it first before making any moves regarding that kind of post because no matter who's gonna say it,

That is the problem like what happened last week,the twitter supposedly secured and no one knows that this is hackable right?

it doesn't make any sense when a person told you to double your money without even doing anything to him in return. This hacking incident may serve as a lesson to be vigilant next time we see this kind of post.

i think that  twitter had already create a wall against hackers to prevent this same situation from happening again.

[lumeire]

Just having basic common sense and stepping away from the situation to see the whole picture will help a lot.

Take some time and observe. Think.

People just need to think a little more about what they're doing.

Not being greedy is the way to go, only greedy people would have sent the bitcoins to those addresses that the scammers gave on Twitter to send bitcoins to. The thing is, if they would have waited then the giveaway would have been over, in fact they should have calculated the time required for getting the transaction confirmed on the network, in most of the cases the transaction is taken up after 2 or 3 blocks even with priority fees. So how could have they sent the bitcoins in the next 30 minutes, I also saw the tweet as I have kept the notifications on for tweets from Binance and Elon Musk, I thought this through and this actually saved my bitcoins from falling into the hands of those scammers.

[nnedigood]

Thanks for this write up. Many people got into the mess because of the giveaway that is common place nowadays. The hackers did a good job by hacking into the accounts of notable personality and senoir citizens of the world and incidentally those account were the personality verified twitter accounts. Greed on the part of the victims could not be over emphasised