According to CoinDesk: A fake $25 million crypto giveaway on X (formerly known as Twitter) highlights the risks associated with Elon Musk's platform and the challenges of account verification. The scam, @Grayscale_FND, impersonates the legitimate Grayscale Bitcoin Trust (GBTC) and promises $25 million of a new token called GBTC to users who visit a mentioned website. However, a Grayscale spokesperson confirmed on Friday that the account has no connection to the real company.
Before Elon Musk purchased Twitter and renamed it X, a blue checkmark symbolized a verified account, demonstrating that some thought and vetting had already taken place. Now that a gold checkmark is required for official organizations and companies—while the blue checkmark simply means the owner can afford $8 a month—crypto scams are proliferating using blue-checked X accounts. Users must understand this new distinction and check for other deceptive characteristics, such as the use of a legitimate company's logo or branding, to avoid falling prey to scams.
