Retail Giant Target's Twitter Account Hacked, Used to Promote Fake 5,000 Bitcoin (BTC) Giveaway

  • Crypto scammers continue to hijack verified Twitter accounts to launch fake bitcoin (BTC) giveaways.
  • Giant retail corporation, Target's official Twitter account was hacked and used to promote a fake 5,000 BTC giveaway.

Cryptocurrency scammers had reportedly hijacked retail giant Target’s official Twitter account - in order to promote a fake bitcoin (BTC) giveaway.

Going After Target's 2 Million Followers

The fraudsters had encouraged Target Coproration’s over 2 million Twitter followers to send a small amount of digital currency to them - in order to enroll in a 5,000 BTC giveaway, an amount valued at about $30 million.

Target Corporation, the second-largest American department store retailer with an annual revenue of over $70 billion, is now among several other large organizations that has been targeted by malicious scammers on Twitter.

Unsuspecting users that sent cryptocurrency to the addresses provided by the scammers must have permanently lost their funds - as it was yet another crypto giveaway scam on Twitter. 

Target Has Not Commented On Incident Yet

Although the tweet has now been deleted, it’s worth noting that large social media outlets such as Facebook and Twitter have not responded effectively - in order to prevent exploitative activity carried out by numerous malicious entities.

Target has not yet addressed the issue - as it has not released an official statement regarding the incident.

It’s unclear at press time how successful the scammers were in conducting the fake giveaway, however, the BTC address they had provided in the fraudulent links have a received a few small incoming transfers.

The small amounts of crypto may also have been sent to the supplied addresses by the scammers themselves - to make it seem as if it was a legitimate promotion.

CapGemini Account Hacked To Promote 10,000 BTC Giveaway

On November 12th, the official Twitter account of CapGemini (Australia), a large consulting firm, was hacked, and was also being used to promote a fake giveaway. The scammers had been posing as Tesla founder and billionaire investor, Elon Musk.

Similar to how most of these types of scams are carried out, the fraudsters had been telling users to send small crypto payments to supplied addresses in order to enroll in a 10,000 BTC ($60 million) giveaway.

It seems that Musk and other high-profile celebrities and business tycoons have become a popular target of Twitter scammers. As CryptoGlobe reported on November 5th, another account impersonating Elon Musk had been conducting the same type of fraudulent 10,000 BTC giveaway. In a span of a few hours, the account managed to receive over 6 BTC, an amount valued at almost $40,000.

Blockchain Wallet Integrates BitPay Support for User-Friendly Transactions

  • Blockchain Wallet announces the integration of BitPay into their existing service. 
  • Emphasis on allowing for "user-friendly" transactions and payments. 

Popular cryptocurrency firm Blockchain.com, which operates the Blockchjain wallet, has announced integration of payment processor BitPay

Blockchain Wallet Adds BitPay Support

In an update, Blockchain Wallet confirmed its new partnership with BitPay, which will allow for the direct spending of user bitcoin in an effort to increase the ease of crypto-based payments.

The press release states that BitPay has been “seamlessly” integrated into the existing Blockchain Wallet framework, which clients can use to make payments directly from their application. 

According to the announcement,

As the largest global crypto payments provider, BitPay and has processed more than $2.8 billion from merchants and B2B customers since 2011.

The press release continues, 

We’re excited to see this new addition connect our Wallet users to the world of merchants that accept Bitcoin (and soon other cryptos) as a payment method — one of the key ways to interact with and grow the digital asset ecosystem.

The emphasis on payments shows the direction that Blockchain Wallet imagines for the future of crypto. While the platform has created a secure cryptocurrency wallet for users to retain simultaneous control over their funds and private keys, user-friendly transactions and spending has continued to be a work in progress. 

BitPay has emerged as one of the more successful payment platforms in crypto, with a focus on establishing a relationship with merchants to accept bitcoin. The partnership with Blockchain Wallet, with its reported 41 million userbase, could go a long way in spurring greater use for bitcoin outside of a store of value asset or token for price speculation.