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Money is a cultural construct. The criminals' actual techniques haven't changed much since the scams emerged in They create Twitter accounts that look like those of celebrities such as Elon Musk or billionaire investor Chamath Palihapitiya. In some cases, like the one that tricked Sebastian, the criminals use stolen accounts of prominent people to ensure they have the blue 'verified' tick to make the account seem more trustworthy. 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.
Twitter is a popular platform, but giveaway scams can also be found on YouTube, Facebook and Instagram. 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. We've received emails from people who have lost Bitcoin and they are very articulate.
Mr van Weert also feels some of the larger cryptocurrency websites giving away Bitcoin to promote their services may have contributed to people's confusion. Three weeks on and Sebastian is clearly still extremely embarrassed. He starts our email conversation by insisting that he is "normally not the biggest idiot in the whole world".
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I live together with my wife and two children and we have a nice house with a garden. I was greedy that night and it made me blind. 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 , euros. Sebastian wants international authorities to take action against the scammers and would like to see the owners of Bitcoin exchanges be proactive in helping. All the exchange platform websites should know who their customers are and know if a particular wallet address is being used by thieves.