
Cybersecurity analyst and security researcher Dominic Alvieri found fraudulent X coin and Token sites to dupe users. Scammers are running 'verified accounts' on X and advertising phishing websites.
Alvieri tweeted the account name ‘TeslaFi | News’ (@TeslaFiNews) which is similar to Elon Musk’s Tesla. It has over 20K followers to whom the crypto scam is being promoted to.
It is worth noting that the members of the group have tagged the official account of Elon Musk in their tweets to build trust among followers while assuming that Musk will not take any action against them.
A recent tweet read, “Did everyone see the @elonmusk X token presale?”
Alvieri tagged Musk and Tesla to draw attention to the X token fraud and the phishing accounts on February 6, however the accounts are still available on the social media platform.
The TeslaFi News account urged its followers to invest immediately to benefit from exclusive rewards including a trip to Mars, getting a Neuralink chip, and Boring Co. gear among other offers.
The following are the fake token sites developed by the crypto scammers:
When asked about the crypto scam to Grok which is developed by xAI, it did not deny the existence of fraud and offered solutions to stop them.
Scammers are creating a sense of urgency among followers by offering ‘Limited time deals asking them to join early.
One of the messages read, “Did everyone see the @elonmusk X token presale? Limited time opportunity to join early at: 🔐 https://xcoin-platform.io Easy to buy. Easy to sell. A great opportunity to grow your capital.”
Users usually look for verification marks and the name of the platform before trusting anything they promote. To look legitimate, scammers mimic brand names and add an extra letter or word to their product.
Moreover, it seems simple to meet the eligibility criteria to receive the blue checkmark on X. One of the parameters in the official document for verification reads, “Your account must have no signs of engaging in platform manipulation and spam.”
It can be challenging for users to understand what constitutes spamming or manipulation if the platform has not been reported by anyone.
This makes it difficult to filter legitimate companies from scammers also because there are several 'verified accounts' on X with names that are very similar to legitimate brands and celebrities.