Also read: Bitcoiners Demand More Crypto CFDs and Spread-Betting in the UK

No, Elon Musk Is Not Giving Away Crypto
Senior developer at Chainalysis, Alvaro Sevilla, explained: "The differences in the way these funds are being handled, such as different withdrawal patterns and the use of different exchanges, is indicative of different copycats attempting to do the same scam. The simplicity of the attack, which requires little technical knowledge and preparation, also leads us to believe it's a trend more than an organised attack," he told Sky News.

The two outfits teamed up to uncover how rampant crypto Twitter scams are, using popular profiles such as Elon Musk, a well regarded tech savant and founder of companies such as Tesla and Space X, and Vitalik Buterin of Ethereum, who is generally respected in the crypto world proper. After having shared their report findings with Twitter, the team received this response from the social media platform: "We are aware of coordinated spam activity around cryptocurrencies and related software products. The malicious use of automation, impersonation, and other deliberate attempts to deceive are prohibited under the Twitter Rules."