Fortunately, Twitter giveaway scams have died down a bit, though they could still appear on Twitter once in a while.
Twitter giveaway scams are pretty straightforward. The scammer makes a fake Twitter account masquerading as a famous person(mostly people in the tech industry). The scammer would then reply to the legitimate person’s tweet,
For example : Elon Musk’s legitimate Twitter handle is @elonmusk whereas the scammer is using the Twitter username @elonmusk___. @elon_musk etc. And tweets as a reply to tweet from Elon’s official account and say something along the lines,
“I am donating 10BTC or 10000 ADA.First 10 transactions with 0.5 BTC or 1000 ADA sent to the mentioned address in this tweet will receive 1 BTC and 2000 ADA in the address the 0.5 BTC or 1000 ADA came from”
While this scam should be pretty obvious, unfortunately, some people still fall for it.
NOTE: While such scams mostly take place on Twitter, it can take place in any other social media site or website in general.
How the scam works
-You see a famous(fake) persona posting on social media on how you can multiply or double your coins.
-You send the coins to the provided address.
-The scammer simply runs away with your coins.
How to protect yourself
-Don’t be delusional. If something’s too good to be true, it probably is.