‘Double Your Bitcoin’ Cryptocurrency Scams

On 15 July 2020 a number of high-profile Twitter users had their accounts hacked by scammers who proceeded to post fake tweets offering to double any Bitcoin that they received. This is the first time that so many public figures have been exposed by a single targeted cyberattack.

Social media users should be wary of people, however famous, offering to double any funds you send. Anybody posting phrases like “I’m feeling generous because of Covid-19” and “You send $1,000, I send you back $2,000” is likely to be suffering from a hacked account and should be avoided.

Get rich quick schemes have been around forever and scammers are always finding new methods of selling them to consumers. Bitcoin and other types of cryptocurrency are chosen because they are difficult to track and victims are unlikely to be able to retrieve any sent funds. The only people getting rich from these schemes are the scammers, never send them your money.

Click here to view the updates from Twitter


US – If you are concerned that you may have been contacted by scammers please report it to the FTC: FTC.gov/complaint

UK – Contact Action Fraud: https://www.actionfraud.police.uk/ (we recommend the use of the online resources to avoid long call delays)

Worldwide – You can report scams and request free advice on our dedicated page:  https://kwikchex.com/consumer-contact/

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