TikTok, the wildly popular video-sharing platform, is currently grappling with an onslaught of fraudulent cryptocurrency giveaways that prey on users’ trust in themes related to Elon Musk, his electric vehicle and aerospace companies SpaceX and Tesla.
A recent report from Bleeping Computer sheds light on these deceptive schemes, revealing the tactics employed by scammers to pilfer unsuspecting victims’ cryptocurrency holdings.
The Ingenious Scam on TikTok
The scammers behind these cryptocurrency giveaway scams ingeniously lure users into registering accounts on counterfeit cryptocurrency exchange websites. Their ploy typically involves a request for a small cryptocurrency deposit, purportedly to activate the user’s account.
However, once deposited, these funds vanish into the hands of the fraudsters, leaving users high and dry. To add insult to injury, these scammers often collect users’ KYC (know-your-customer)…
