Bitcoin User Loses Record $1.1M

[lovesmayfamilis]

A bitcoin user lost more than 26 BTC worth $1.14 million to online thieves posing as MicroStrategy chief executive officer Michael Saylor.

Whale Alert stated, "this scam received the single largest payment ever to a fake giveaway."

Saylor said he reports the scammers to YouTube every 15 minutes, and they are pulled down hours later, but the criminals are relentless.

https://beincrypto.com/bitcoin-user-loses-record-1-1m-scam-michael-saylor-giveaway/

Another ironic story. For me, it looks exactly like this. A person who owns 26 BTC falls for the bait of scammers who, allegedly on behalf of Michael Saylor, promise to double his capital. Maybe I'm too skeptical. Having a decent capital in bitcoins, it would be worth checking the information on several channels than throwing away bitcoins, counting on increasing your capital. While those 26 BTC may not have been the last in his portfolio, and for the owner is not a big loss.

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[Lucius]

Cases like this just prove that there are a lot of people who are incredibly naive and have no idea what they are doing in life. Someone may now try to blame Bitcoin for everything, but the blame is on a person who believes that someone like Saylor is distributing millions of dollars to random people.

Unfortunately, these people cannot be saved from their own stupidity, I don’t know what else to call it. Scammers live like gods these days, and the saddest thing in the whole story is that no one can do anything to them - at least in most cases.

[davis196]

If you had 1M USD,would you want to double them by sending the money to a guy,who promises you 100% profit right away?Those "double your BTC" giveaways are a total nonsense.It doesn't make any sense.
Rich people can be naive.Who knows?
Perhaps this guy is so rich that he could throw away 26 BTC at some "fake giveaway" without caring about the consequences.He probably has 100 million dollars and he doesn't care about losing a million or two.

[hatshepsut93]

How can we know that that transaction wasn't made by the scammers themselves in order to create a fake perception that other people are sending money to them? This is one thing that gets rarely discussed with these scams, as everyone assumes that all the incoming transactions to doubler addresses come from victims.

[tbct_mt2]

A person who owns 26 BTC falls for the bait of scammers who, allegedly on behalf of Michael Saylor, promise to double his capital. Maybe I'm too skeptical. Having a decent capital in bitcoins, it would be worth checking the information on several channels than throwing away bitcoins, counting on increasing your capital. While those 26 BTC may not have been the last in his portfolio, and for the owner is not a big loss.

It is a very old scam trick. Send a deposit, go first with it. Then you will get double in return. Is it too good to be true offer? Is it what we can actually have in life?

It's a bad lost story and I am sorry for that whale but somewhat deserved to be scam because of naive and laziness or ignorance on all scam alerts or guides to avoid scams.

Scammers on Youtube. Don't fall into this scam trap and lose money, guys
Youtube scam channels. Please spend your time to report them and take them down

How can we know that that transaction wasn't made by the scammers themselves in order to create a fake perception that other people are sending money to them? This is one thing that gets rarely discussed with these scams, as everyone assumes that all the incoming transactions to doubler addresses come from victims.

Correct. Scammers can make fake transactions to convince others that their giveaway is real.

[Upgrade00]

How can we know that that transaction wasn't made by the scammers themselves in order to create a fake perception that other people are sending money to them? This is one thing that gets rarely discussed with these scams, as everyone assumes that all the incoming transactions to doubler addresses come from victims.

This is also the idea I have about cases like these.I find it difficult to believe that someone who had up to $1.14 million is not financially exposed enough to detect fake giveaway and fall for a pay 2 get 4 scam. Anyone who uses the internet regularly should have come across such scam attempt.

It is very possible the scammers are sending bitcoins between themselves and doubling the returning amount.

[aysg76]

People who don't know how to securely keep their coins don't deserve them especially those who are reluctant and bounded by greed to double their coins by sending them to someone renowned.Maybe i am too blunt but seriously you would send 26 btc straight away if someone says i will double it? This is the purest form of scam like why would Saylor even attempt this thing? There are so many suspicious sentiments that arises at our end but nothing happened to these victims at all.

This is not new but the only thing which is addition to this scam is the involvement of amount which is huge as $1.1M is lot of funds to be scammed.At this time it's around that much but he could have doubled it soon by holding.

These types of doublers scam has been around the corner for quite a long time and the the best is the scammers portray themselves as some renowned personality and promise to double the coin which these known one's seems to support and then have fake address and hack the social media accounts for some time.They are lucky that get victims like this one was happened in the past :

A woman lost $12,000 because of the Dogecoin, Elon Musk scam

Elon Musk double doge scam

But still they will find victims because people are fool enough to trust them derived by greed but they need to have proper check beforehand.There are lot of guiding threads on how to check project is scam how to avoid them and all that but still we see same things each time.

[crwth]

It's not just about being secured with your coins, and it's with the fact that you should know the possible scams you could encounter in this world. I mean, imagine being able just to shell out 26 BTC to double it. It's a lot, and that's going to be only possible for those already who have a lot. I think the lack of knowledge motivates them to keep on hacking because it still works. It's just sad that they have done it that way.

[so98nn]

Another lesson worth 1 million dollars. Everyone take note of this. 

How could a million dollar holder could be so ignorant to do this? Dam even if I want to send 20 bucks over p2p transaction I will freaking check the end user 2-3 times and if I’m not sure about the transaction I will literally cancel it.

And here you go, in the parallel universe someone is so confident about their trades that they are throwing away one million just like that. Must be rich man with golden heart I would say.

What’s done is done but I’m still shocked, a millionaire being so ignorant.

I can’t just digest that.

[Congyang]

From here we can take a big lesson because people like these criminals will always make sense to carry out their tricks.
On the other hand, it turns out that there are still a lot of people who are innocent and easy to believe in things like this even though it is about their finances.
things like this will not happen when the person who was tricked is not too reckless in making decisions.
It's a shame that something like this could happen.
I hope something like this doesn't happen again and people start to realize their actions so they won't be too careless in making decisions like this

[avikz]

The crypto market is infested with scammers. But there is one prominent common reason for every victim to such scams - Greed! It is either get double or unrealistic return or it could be anything that promises to make you richer. Unless someone is unable to control their greed, there's no way out!

I am surprised to see that a millionaire is stupid enough to fall for such scam attempts! They are usually those people with higher iq. But that wasn't the case here, clearly!

[cheezcarls]

A bitcoin user lost more than 26 BTC worth $1.14 million to online thieves posing as MicroStrategy chief executive officer Michael Saylor.

Whale Alert stated, "this scam received the single largest payment ever to a fake giveaway."

Saylor said he reports the scammers to YouTube every 15 minutes, and they are pulled down hours later, but the criminals are relentless.

https://beincrypto.com/bitcoin-user-loses-record-1-1m-scam-michael-saylor-giveaway/

Another ironic story. For me, it looks exactly like this. A person who owns 26 BTC falls for the bait of scammers who, allegedly on behalf of Michael Saylor, promise to double his capital. Maybe I'm too skeptical. Having a decent capital in bitcoins, it would be worth checking the information on several channels than throwing away bitcoins, counting on increasing your capital. While those 26 BTC may not have been the last in his portfolio, and for the owner is not a big loss.

"Promise to double the capital". These words alone in my eyes, I have the "I knew it" mindset already.

I don't know why that person with 26 BTC fell for it so easily without having second thoughts? Looks like that scammer has some great eye-catchy skills in creating headlines of the giveaway. He should have manually verify it first to the real MicroStrategy if he really is the one doing the giveaway or not. Oh well, a hard lesson to learn.

[LogitechMouse]

Even though we've seen many people teaching anything about investing, even though we have lots of information on Google regarding these scams, even though we've seen people getting fooled by these scammers, there will always be investors who will fall into these kind of traps and there is nothing we can do to them.

Well, investors will not learn if they will not experience it in real life. Investors will not realize until they themselves are in the spot. Ignorance really is very expensive that in this case it causes 26 BTC . I don't know TBH what I'm feeling right now. Its kinda frustrating that we see an investor that has huge BTC but falling into this kind of typical shitty scam but at the same time, its a little bit funny that the investors is holding that huge amount but he is ignorant to the point that he is falling to scams like this.

Hope the investor learned from this. The word double itself is already a red flag at least for me.

[btc_angela]

I guess there are still some investors who are still very noob as far as the crypto games is concern.

I mean this is not the first time that we have seen scammers trying to pose someone famous and influential in crypto world and we have warned them many times. And yet, this method is very effective because people are still failing for it.

This is a classic bitcoin doubler which has been plowing in the space since I joined crypto 5 years ago and still effective up to today.

[goldkingcoiner]

A bitcoin user lost more than 26 BTC worth $1.14 million to online thieves posing as MicroStrategy chief executive officer Michael Saylor.

Whale Alert stated, "this scam received the single largest payment ever to a fake giveaway."

Saylor said he reports the scammers to YouTube every 15 minutes, and they are pulled down hours later, but the criminals are relentless.

https://beincrypto.com/bitcoin-user-loses-record-1-1m-scam-michael-saylor-giveaway/

Another ironic story. For me, it looks exactly like this. A person who owns 26 BTC falls for the bait of scammers who, allegedly on behalf of Michael Saylor, promise to double his capital. Maybe I'm too skeptical. Having a decent capital in bitcoins, it would be worth checking the information on several channels than throwing away bitcoins, counting on increasing your capital. While those 26 BTC may not have been the last in his portfolio, and for the owner is not a big loss.

I would have never thought someone that rich could be that naive. But then again, I guess that person must have probably inherited all his money, instead of actually working for it. That might explain it.

I mean he did not even check with a video meeting with the CEO or anything? The only strategy you need with Bitcoin is HODL. Thats it.

Is there a way to track the scammers down at this point? A million dollars could be worth the effort if you set a bounty of 100-200k on the scammers.

[ChiBitCTy]

Man this is rough. I recently lost quite a bit of cryptocurrency, although not by a scam, but this makes me feel a lot less worse about what I lost, nothing near this. It unfortunately amazes me that so many people are losing money to scams like these.  I also wish that social media sites would do a better job about policing these sites. If you log on to any of them you’ll easily see all the scams that run rampant.

[TravelMug]

When I was just beginning my crypto journey, I too fall for this kind of bitcoin doubler. I'm sure majority of you here remember back in the days wherein there's a lot of websites who offer this kind of doubler.

So the inexperienced in me that time made me think that I can double my bitcoin that easy. And then it dawn on me that it was a scam but it was too late as I have sent my BTC already.

That was just a few satoshis, but the feeling though. So imagine what going on with that man mind right now falling for this scam, damn, it's hard.

[rdbase]

Just from the title of the scam done, it sounds like those which were running on youtube from Musk, Woz, CZ and so on.
You see where I am going with this;
All crypto influencers in one way or another who can have their name used in these schemes. If it were, then youtube are responsible as much as Saylor is because they are still allowing these scamjobs to proceed on their platform even after announcing they were assigning an algorithm.

Anyways, here is an interesting article while searching for more information before running into the reddit thread on the above subject:
https://newrepublic.com/article/160773/bitcoin-price-boom-michael-saylor-microstrategy

reddit: https://www.reddit.com/r/CryptoCurrency/comments/s5zpim/btc_worth_11_million_sent_to_a_confirmed_michael

[noorman0]

Unfortunately, why is that amount of bitcoin still owned by stupid people? LOL
I think there have been many warnings of bitcoin doubler scams on behalf of famous people on social media. An important lesson that before filling the address with a lot of bitcoin, we should fill the brain with knowledge about security, risk and vigilance.

-snip-
I think the lack of knowledge motivates them to keep on hacking because it still works. It's just sad that they have done it that way.

Of course it will always work, cryptocurrencies these days have made a lot of idiots rich from memes, nft and more to come.

[hugeblack]

Regardless of Bitcoin, who believes that any money can be multiplied easily and without conditions, pay this and you will get that tomorrow.
Even the most greedy will be skeptical, and if he does a Google search, he will find that such claims are inaccurate.
I think it's fake news from news sites to get free views.