Have you been added to a random Twitter list called “Deal of the Year” or similar? Is there a picture at the top of the list that shows Elon Musk’s tweet saying that he has randomly selected some new followers and is giving them an opportunity to enter the biggest giveaway? This is a fake tweet. So ignore any directions it gives you and don’t visit the website it directs you to.
How does this scam work? What should you do when someone randomly adds you to a Twitter list? If you fall victim to this scam, what should you do?
What is the Elon Musk “Freedom Giveaway” Crypto Scam?
“Freedom Giveaway” is a crypto scam targeting Twitter users. In this scam, cybercriminals add Twitter accounts to a random Twitter list. Most of these accounts may be those who have recently followed Elon Musk or his companies on Twitter, but there may be others who have not.
At the top of the Twitter list, scammers add a fake image of a tweet, supposedly by Elon Musk, in which he appears to announce the “biggest” crypto giveaway. At the end of the fake tweet, scammers ask users to visit a fake giveaway website set up by scammers.
Since Elon Musk advocates freedom of speech, scammers have chosen a clever domain name that includes the term “freedom”. Furthermore, the Twitter account that adds these users to the list uses an official Twitter logo. On the whole, cybercriminals do an excellent job of making everything look authentic.
Freedom Giveaway Website Overview
When potential victims visit the fake website, a pop-up asks them to confirm that they are over 18. Once they confirm this and click “Continue”, they are greeted with a clean landing page with Elon Musk’s image. Then, the next screen asks the potential victims to answer a few simple questions about Musk or one of his companies.
After answering a few questions (either right or wrong), another screen appears containing an address bar asking potential victims to enter their BTC wallet address.
That’s the address scammers claim the giveaway prize will be sent to. By entering their wallet address, victims will be taken to the final screen.
On this screen, victims see a wallet address (probably owned by the scammers) and a message stating that anyone who sends crypto to this address will immediately receive more returns on their investment. This means that if someone sends 1 BTC, they will get five times, 10 times or even higher multiples in return.
The fake giveaway website states that the giveaway will end after 5,000 people have entered. To speed things up, scammers also add a fake counter to this page, which apparently shows how many people have already participated. The scammers keep the counter close to 5,000 to make victims feel like they will miss out on the opportunity if they don’t act quickly.
Finally, some fake comments at the end of the giveaway page praise Musk for running such a great giveaway. These are completely fake.
So how do scammers make money from this?
How do scammers profit from this scam?
Fraudsters can profit from this scam in several ways.
- When innocent users believe the giveaway and send their crypto to a scammer’s wallet, they don’t return it. There is one way scammers profit from this scam.
- Scammers have added a QR code to the giveaway page. Those who accidentally scan it may have hacked their crypto wallet, phone or other device they are using.
- As victims share their wallet address to enter the giveaway, which potentially contains crypto, scammers can also try to hack it and steal their money.
The list goes on and on…
What should you do when you are targeted by this scam?
If you’ve been added to a Twitter list but haven’t visited the website scammers are targeting you, all you have to do is remove yourself from that list and report the scammer’s account that added you.
To remove your account from that Twitter list, you must block whoever created it. Removing yourself from Twitter lists is easy. Then find the list where you have been added and block the creator.
After that, you should report the Twitter account that added you to the list if it’s not the one you’ve already blocked. The process of reporting a Twitter account is also simple and helps fight cybercrime.
But what should you do if it’s already too late and you’ve already lost money through the “Freedom Giveaway” scam?
What should you do if you have fallen victim to the “Freedom Giveaway” scam?
If you’ve just landed on the scammer’s website or filled out the quiz, but haven’t provided your wallet address, you should be safe. Just close the site and don’t visit it again. You can also have your security suite scan for potential malware that downloads automatically, although we haven’t heard of this happening via this particular scam yet.
However, if you have entered your wallet address on the site, fraudsters may have obtained it. Transfer your money from this wallet to another. This way, if scammers try to hack your wallet using the address you shared, they won’t get anything (as long as you act quickly).
If you’ve made a mistake and sent crypto to the scammer, there’s little you can do. Crypto transactions are irreversible, so you cannot get them back. Instead of panicking further, transfer the remaining funds from the wallet you used to complete the transaction.
If you have scanned the QR code on the website, disconnect your device from the internet immediately. This will stop fraudsters from continuing to use your device if they have gained access to it in a smart way. After that, perform a malware scan on your device to make sure it is not infected. You should also reset the network settings on Windows or Mac and scan the browser. Next, check the installed apps and remove any suspicious apps that you don’t remember installing.
Watch out for “Freedom Giveaway” scams
“Freedom Giveaway” is a clever crypto scam scammers are using to scam people on Twitter. While the scam primarily targets Twitter users, you should be wary when using other social media platforms as scammers can use it there as well.
And spread the word about this scam so other Twitter users don’t fall victim to it.
