Belgian Non-Profit’s Twitter Hacked for Fake Crypto Promotions

Girish Chugh

January 10, 2019 12:11 pm

Crypto Scam

Belgian Non-Profit's Twitter Hacked for Fake Crypto Promotions
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A Belgian non-profit’s twitter account was hacked and turned into a fake affiliate account of United States based crypto exchange, Coinbase. A false giveaway promotion was posted through the hacked account. The tweet from the account allegedly celebrated Coinbase’s user base growth. The tweet was posted on January 9, and since has been deleted.

The account hacked belongs to the Federation of Enterprises in Belgium (FEB), a non-profit organization which strives to promote the interests of Belgian Businesses.

The hackers changed the account’s appearance into an affiliate account of Coinbase, with the description reading “Official Coinbase Promotion Account.” The profile picture and cover photo featured the branding of Coinbase’s Official site.

However, the scammers could not change the account’s official handle, which stayed @VBOFEB, a compound abbreviation for the name of the organization in Dutch and French.

The fraud give-away tweet posted imitates a common crypto scam model circulating on Twitter, urging users to contribute a small crypto amount to earn a more massive amount. The tweet posted by the scammers’ urged users to partake in a fraudulent 3,000 BTC give-away, allegedly in honor of Coinbase’s user base growth to “over 30,000.000 (sic) users.”

Furthermore, the inconsistent formatting of numbers and grammatical errors only accentuated the fact that the giveaway tweet and accounts were parts of a scam. As the giveaway tweet read, “We giving (sic) away 3,000 BTC.”
The host of CNBC’s Crypto Trader, Ran Neuner highlighted that the number of Coinbase user accounts reached to a 25 million mark in October, having about 600,000 users actively trading on the platform.

Social media platforms have proven to be useful tools for marketing, but they have also turned out to be the best medium for scammers to lure people into their fraudulent schemes. Hence, one should always stay curious and be aware of such cases.

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