While cryptocurrency unfolds its fame in the market, frauds and schemes are also sharing the same prestige. Another latest case of fraud scheme was created by a fake account of famous Star Trek actor William Shatner. Shatner, therefore, clarified that ‘he was not giving away any type of cryptocurrency’ especially on his social media accounts.
The fake account was called out on Tuesday by the real Shatner via Twitter stating that “BTW another fake me pushing a pump and dump crypto Ponzi scheme: @wiliiamshatners”.
Moreover, the impersonator promised a large sum of crypto in exchange for a small donation between 0.5 and 20 ETH, purportedly to verify the users’ addresses. He, then, posted an Ethereum website called etherpromotion.org since June 20 that was allegedly giving away 10,000 ETH, increasing ten times once they sent out their cryptos.
Unfortunately, the scheme website is still live as of now, making crypto transactions while the fake account of Shatner is still not being taken down by Twitter; creating much more danger with those who still support the scheme.
Interestingly, these scammers are not taking this job lightly due to their persistence in finding the right target for the fake accounts. Recently, Shatner announced his interest on cryptocurrencies by being the spokesperson for the Solar Alliance Energy –an Illinois 165,000 square feet crypto mining facility that uses solar energy — making him well-suited for the scheme.
Scams and Frauds in the System
According to U.S Federal Trade Commission, consumers lost approximately $542 million in the first two months of this year in crypto-related fraud. And if not prevented, an expected $3 billion mark will be reported by the end of 2018, according to the director of FTC’s Bureau of Consumer Protection, Andrew Smith.
Meanwhile, other personalities from different sectors in the industry, have their own fake accounts’ incidents that were also clarified by their real accounts. Tech Entrepreneur and cryptocurrency legend, John McAfee also had his fake account removed due to its fraud crimes while Vitalik Buterin — one of the founders of Ethereum — made an action towards consumers to check and verify the accounts first before making transactions for a legit offer in crypto. Other names were presented like Elon Musk, the founder and CEO of electric car maker Tesla; Richard Branson, and even US President Donald Trump.
Authorities and specialists are sharing information in social media to prevent these incidents again. Also, most of the scammers’ target names for fake accounts are famous in the market in order to gain more attention and then, changed their names close to the real account’s name.