A purported $25 million giveaway of a token called GBTC – letters better associated with the $13 billion Grayscale Bitcoin Trust – is an obvious fake.
A purported $25 million crypto giveaway on the social-media platform formerly known as Twitter is – no surprise, really – indeed too good to be true.
Posts on X on Thursday and Friday lean into one of the hot stories of the moment in crypto: the Grayscale Bitcoin Trust , which, as a result of a recent court victory, could be on its way toward being converted into a favorite traditional financial investment vehicle known as an ETF. The core message: a claim that $25 million of a new token called GBTC – the ticker symbol associated with the real $13 billion trust – will be distributed to folks who visit a website mentioned in the post.
The catch: The account making these promises, @Grayscale_FND, has nothing to do with the real company called Grayscale, a fact confirmed by a Grayscale spokesperson on Friday; the offer is an obvious scam.Before Elon Musk bought Twitter and renamed it X, a blue checkmark – like the one emblazoned on @Grayscale_FND’s account – was a sign the account was verified, that some measure of thought and vetting had occurred before the account got that label.
The real @Grayscale X account has a gold checkmark, a designation reserved for companies and other"official" organizations. To avoid getting tricked, one thing an X user would need to know is that new distinction. But they could also be fooled by the fact that @Grayscale_FND uses the logo of the real Grayscale.A CoinDesk journalist was made aware of @Grayscale_FND's posts because somebody spammed him with it on X.
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