20 years in Afghanistan: Was it worth it? Canada sounds the alarm as Covid cases overtake US, Indianapolis FedEx gunman was former employee, Fyre Festival ticket-holders win $2m settlement, Philip's funeral to mark his 'unwavering loyalty'. Bitcoin: Fake Elon Musk giveaway scam ‘cost man £400,000’ BBC News Source link However, for one German man, his name will always bring up one of his worst memories. They wait for the real accounts to tweet, and post a reply to make it look like the celebrities have posted the scams to their millions of followers. Dogecoin takes off after tip by Elon Musk, Bitcoin tops $34,000 as record rally continues, Raúl Castro steps down as Cuban communist leader. When the Bitcoin price goes up, people go crazy and a lot of them are new to the market and they want this idea of quick money," said Mr van Weert. 133 miles away in Amsterdam, analysts at Whale Alert had watched in horror as Sebastian's 10 Bitcoin were transferred and then cashed out anonymously a few days later. Three weeks on and Sebastian is clearly still extremely embarrassed. SHARES. "I went upstairs and sat on the edge of the bed to tell my wife. The BBC is not responsible for the content of external sites. It comes days after Mr Musk added "#bitcoin" to his Twitter profile page, which drove up the price. Elon Musk has dropped his chief executive job title and crowned himself "Technoking of Tesla". He and his wife watched a series on Netflix, before she went to bed and left him on the sofa messing about on his phone. In that instance hackers stole more than $118,000 worth of Bitcoin and three people were arrested. Bitcoin: Elon Musk loses world's richest title as Tesla falters. Data also suggests the number of victims this year is set to eclipse previous years. The analysts use a public ledger that shows all movement of cryptocurrencies in real time to spot trends and track money. Bitcoin Bitcoin: Fake Elon Musk giveaway scam ‘cost man £400,000 ... Sebastian, who asked that the BBC didn’t use his real name, didn’t sleep that night. As an alternative, he spent hours emailing the scammer web site and tweeting the faux Elon Musk’ Twitter account to attempt to get some or all of his a reimbursement. He cashed out and got his initial money back, but then watched excitedly over the years as the 10 coins grew to be worth nearly 500,000 euros. It said it had already bought $1.5bn of Bitcoin and could "acquire and hold digital assets" in the future. For the next 20 minutes as the timer wound down, Sebastian waited for the prize to land in his Bitcoin wallet. Twitter is a popular platform, but giveaway scams can also be found on YouTube, Facebook and Instagram. Elon Musk has told users of an online social media app that he thinks the virtual currency, Bitcoin, is a "good thing." 189. It invited people to send anything from 0.1 Bitcoin (worth approximately £4,300) to 20 Bitcoin … "One of the largest companies in the world now owns Bitcoin and by extension, every investor that owns Tesla, or even just an S&P 500 fund, has exposure to it as well.". Giveaway gangs have already made more than $18m (£13m) in the first three months of this year, compared with the $16m made in total for the whole of 2020. Researchers says scammers are making record-breaking sums in 2021. «Dojo 4 Doge?» hatte Tesla-CEO Elon Musk auf Twitter geschrieben, was in Bitcoin-Kreisen einem Tauschgeschäft entspricht. "I think we will see an acceleration of companies looking to allocate to Bitcoin now that Tesla has made the first move," said Eric Turner, vice-president of market intelligence at cryptocurrency research firm Messari. The victim narrated to the BBC how he fell for the Bitcoin fraud, known as a “gift scam.” It invited people to send anything from 0.1 Bitcoin (worth approximately £4,300) to 20 Bitcoin (approximately £860,000), and the team would send back double the amount.