A confirmed scam address impersonating MicroStrategy’s Michael Saylor has received over $1.1 million in bitcoin in January alone. The CEO of the NASDAQ-listed company later revealed that his team reports such addresses almost constantly but to little-to-no avail.
Impersonating scams in the crypto industry are a growing threat in which the perpetrators pretend to be a famous person from the community and offer to double all BTC that users send to their wallets.
Needless to say, all BTC that is actually transferred to the scammers’ addresses are lost, and the victim does not receive anything in return.
Although these scams sound too good to be true, people continue to fall victim quite frequently in the hope of free money.
Michael Saylor, the CEO of the company that owns the most BTC and a personal HODLer himself, is frequently impersonated.
The latest example came during the weekend as Whale Alert reported one address confirmed to be a Saylor-impersonating scam.
Although it has been active for less than a month (January only), the wallet has attracted more than $1.1 million worth of bitcoin, which goes on to show the danger of such scams.
MicroStrategy’s CEO commented on Whale Alert’s post later on, indicating that nearly 500 such scams went live on YouTube in just one week.
He said his team continues to report them “every 15 minutes, and they are taken down after a few hours,” but they continue to pop up frequently.
489 of these scams were launched on YouTube last week. We report them every 15 minutes and they are taken down after a few hours, but the scammers just launch more…
— Michael Saylor⚡️ (@saylor) January 16, 2022