Scammers Impersonate Malta's Prime Minister on Instagram to Sell Bitcoin

  • Malta's Prime Minister Joseph Muscat is being impersonated through a fake profile on Instagram. 
  • A post from the fake profile by an Instagram user named Wang Wei had requested, in the prime minister's name, to contact the Chinese conman for advice on Bitcoin investments.

Joseph Muscat, the Prime Minister of Malta, has reportedly been impersonated, online by an Instagram user with the account name wangwei8976. Wang Wei is believed to have created a fake Instagram profile of the Maltese prime minister, in order to lure people into making questionable bitcoin (BTC) investments.

Through a post from the fake profile, Wei recommended, under prime minister Muscat’s name, that investors contact him for advice on bitcoin investments.

Although the misleading post has now been taken down, local news outlet, the Independent, described the impersonation attempt as being carried out “by an industrious and seemingly Chinese conman, who has gone to great lengths to create a fake Instagram profile replete with official-looking photographs.”

Misleading Post On Bitcoin Investments 

According to the news agency, the fake profile even included a link to partitlaburisti.org, the Maltese prime minister and his political party’s official website. While the misleading crypto investment post has now been removed by Instagram’s management team, Wang Wei’s Instagram account is still reportedly active.

The prime minister’s fake profile (josephmuscat290) has also not been removed. His real profile is under the account name josephmuscat_jm. Moreover, Muscat’s fake profile currently has over 1,300 followers and many of them appear to be Maltese residents, including experienced politicians.

Currently, it is still not clear who’s actually operating the prime minister’s fake account. This is the link to Wang Wei’s Instagram profile: https://www.instagram.com/wangwei8976/, and this is the link to the fake profile of prime minister Joseph Muscat (who’s also the Leader of Malta’s ruling Labor Party): https://www.instagram.com/josephmuscat290/.

Crypto Influencers Impersonated

Notably, this is not the first time that a famous, or influential, personality has been impersonated on social media, in order to mislead cryptocurrency enthusiasts and investors. As CryptoGlobe reported in July, cryptocurrency platform TRON’s founder Justin Sun had been impersonated on Twitter.

Crypto scammers had reportedly hijacked the official Twitter account @AlmostHumanFOX, which belongs to FOX’s Almost Human TV show. After gaining control of the account, the scammers had been attempting to lure unsuspecting users by offering “fake” giveaways or free digital currency.

The fraudsters had also been providing cryptocurrency addresses to which they were requesting that payments be sent to enroll in the fake giveaways. Given the serious nature of the increasing number of fake profiles on social media websites, including Facebook, Instagram, and Twitter, the companies managing them have been criticized for not protecting their users. In many cases, social media sites have been known to take little or no action against online scammers.

You Can Now Buy Crypto With Visa and Mastercard via Binance App for Android

Siamak Masnavi

On Thursday (April 25), Binance announced that its mobile app for Android now lets you buy with Mastercard or Visa some of the most popular cryptocurrencies that are listed on Binance.com.

According to Binance, this support for cryptocurrency purchases via debit/credit cards, which is possible as a result of the partnership with Fintech startup Simplex that was announced on January 31, is available in version 1.5.8.0 or higher of the "Binance - Cryptocurrency Exchange" app for Android.

Since January 31, it is has been possible to buy on the main Binance website (Binance.com) Bitcoin (BTC), Bitcoin Cash (BCHABC), Ether (ETH), Litecoin (LTC), and XRP using debit/credit cards (Mastercard and Visa). Then, on March 12, it became possible to do the same on Trust Wallet (Binance's official non-custodial wallet app). And now, the Binance app for Android joins the party by offering the same feature.

 

Here is what you need to do to buy crypto via debit/credit cards on the Binance app for Android:

  • Tap on the "Credit Card" button, which is the last button on the toolbar you see in the middle of the "Home" screen. This takes you to the "Buy Bitcoin" screen.

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  • On the "Buy Bitcoin" screen, you can choose from a dropdown list the cryptocurrency you want to buy (BTC, XRP, ETH, LTC, or BCHABC), specify the quantity of a particular cryptocurrency that you want to buy, and choose the fiat currency (USD or EUR) you want to pay with.

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  • You will then be shown the total amount (including the fee) that you will get charged if you go ahead with the purchase.

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  • Once you tap on the "Buy Now" button on this screen, you will be shown a "Confirm Your Order" screen.

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  • If you then tap on the "Accept, go to payment" button on the confirmation screen, you will be taken to the checkout screen on Simplex.com, where you will be asked to enter into a form your personal details (email, phone number, date of birth) and your card details.

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Here are a few things you should be aware of:

  • "The crypto amount quoted is based on the current rate and is not final. If the rate changes by more than +/-2.5% you will be asked to reconfirm the transaction via email from Simplex"
  • The fee is "3.5% per transaction or 10 USD, whichever is higher."

Featured Image Credit: Photo via Pixabay.com. Screenshot Images Courtesy of Binance