Crypto Scammers Rush to Mining Verified Twitter Handles After Incoming Merge

It’s been 24 hours since the Ethereum blockchain went historically green with the arrival of its eco-friendly upgrade, called Consolidation. However, the excitement surrounding this launch has been mixed with the looming phishing threats facing unsuspecting Ethereum enthusiasts, putting them at financial risk. Scammers seem to be catching the access credentials of verified Twitter accounts only to later change the account name to the name of Ethereum co-founder Vitalik Buterin. They then used these hacked verified accounts to post about fake gifts in an attempt to lure potential victims into their evil scam network.

Recently, India’s Go First airline verified handle was compromised by vitalik-buterin) unidentified hacker who renamed the handle to Vitalik Buterin gave away 100,000 Ether coins on a first come, first served basis.

A potentially malicious link was also shared by Go First, founded as Indian low-cost airline GoAir based in Mumbai, Maharashtra and owned by the Wadia Group.

The scam was quickly noticed by Twitter users, who posted screenshots and tried to stir awareness.

In the past few days, similar screenshots Ether Gifting posts from verified accounts named Buterin appeared on Twitter, amplifying the warnings surrounding these potential crypto scams.

The hackers also changed the profile pictures of the compromised accounts to resemble Buterin’s.

Members of crypto community are urging each other to check the usernames of all handles that reflect the Ethereum co-founder’s name and image to identify fake ones and report them.

Essentially, the Ethereum blockchain has now switched to an energy efficient ‘proof of stake (POS)’ mining model from the previous ‘proof of work (POW)’ mining model. Here upgrade cut the power consumption of the Ethereum blockchain by 99.95%.

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