Much has been made of the cryptocurrency industry since the craze came about. It has been hailed as a game changer on one hand and criticized on the other as being susceptible to hacking and theft. This, coupled with Fear of Missing out (FOMO) and numerous online campaigns meant to promote cryptos has only attracted more people to the industry. The result of this has been the creation of a spring board for scammers, hackers and phishers. They prey on the unsuspecting masses of the online world to swindle them off their hard-earned cash.
CSA Twitter account compromised
This was the case in South Africa on January 14 where Cricket South Africa (CSA), South Africa’s Official cricket Body’s Twitter handle was hacked and used to send out tweets promoting a fake cryptocurrency lottery. The account’s followers were asked to send 0.01BTC to an address provided as entry into the lottery from which they stood to ‘win’ bigger prizes.
CSA’s twitter account has raked up over a million followers, which made it a good target for scam promotion due to its huge outreach (audience). The account sent out tweets to the effect that that it had begun a partnership with Luno, a British cryptocurrency Wallet, in which winners of a lottery could win 20 BTC. All that was needed was for followers to send 0.01 BTC to a bitcoin address to participate.
However, the address given to receive the BTC only has 0.02BTC which means only two people were scammed.
Tweets deleted swiftly
Once it was realized that the CSA’s twitter had been compromised, the organization acted quickly to regain control after which the tweets were deleted immediately. Also, CSA warned its followers not to respond to the tweet or send BTC to the address. “Apologies to all our Twitter followers who were affected by the hack overnight,” they said.
On its part, the British firm-Luno has also come out to refute the claims of a partnership with CSA or any lottery being underway. “We distance ourselves from this tweet that is going around. We have not partnered with (CSA),” the firm said in a statement.