In the past couple of years, the cryptocurrency industry has gained a lot of hype and recognition all around the world. It seems that now every other person in the entire world’s population is aware of cryptocurrencies one way or another.

It was at the end of the year 2020 when it was revealed that the cryptocurrency industry has more than 100 million unique and active users. There are plenty who read about cryptocurrencies every day but are unable to do anything about them.

The main reason for not being able to do anything is because of the lack of funds. There are many who have made some small investments but are always up for some extra help they can get from others.

This is where the scammers have found a weakness among the majority of the crypto-investors and enthusiasts. While there are many who end up identifying the scams, yet there are some who do end up getting trapped and lured.

One of the biggest traps in crypto-scams is the crypto-giveaway. Despite being one of the oldest and the most stupid ones, it is still trending as some people end up doing what is asked of them and lose their money.

Even in the year 2021, people end up giving away money with hopes that Mark Zuckerberg or Elon Musk will be giving them Bitcoin (BTC) or Ethereum (ETH) in return. With the passage of time, the scammers have become very advanced and have become tech-savvy, which helps them in running such scams.

According to Metamask and Bleeping Computer, scammers receive around $580,000 from the victims who end up sending their cryptocurrencies to such scammers. In the majority of the cases, the innocent users end up sending money to scammers who claim that they can double their money.

Recently, it is the giveaway that has emerged again to lure unsuspecting people and is taking away their cryptocurrencies. In order to execute this scam, the scammers have now deployed bots that reply to the users the moment they send a message.

This scam is currently trending on the Twitter platform where the scammers deploy bots, claiming to be someone that have received funds from Elon Musk or Winklevoss twins. The bots demand the person to reply if he/she is interested in doubling their currencies.

Whoever ends up replying gets an address from the bot, asking the person to send their crypto and receive double the amount. While the majority of the people detect the scam at this point but some end p sending their crypto.

It has been established the scammers have been using different addresses for several major cryptocurrencies in order to carry out their scams. One of the Bitcoin (BTC) addresses even managed to scam people off of $400,000 in a matter of two days.


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