Fraudulent account, pretending to belong to Ethereum (CRYPTO: ETH) Co-Creator Vitalik Buterin On Instagram, the social network you run Meta Platforms Company (NASDAQ:FB), allegedly engaging more than 570,000 people with sponsored ads and scams.
What happened: The Instagram page with 24 posts includes an image of Vitalik Buterin, which is remarkably similar to the one used by the Ethereum founder on his Twitter profile.
Screenshot showing the account allegedly belonging to Vitalik Buterin
There’s even a link to Buterin’s blog to add a touch of authenticity to her unverified Instagram page.
Yoluswagmunster, a creator of TikTok, called the Instagram page an “evil scam.” He said the scammer’s account is located in Israel and that “some of the previous usernames on this account were also trying to be Vitalik.”
The three usernames referenced by Yoloswagmonster in the TikTok video date from 2019. Benzinga has verified the accuracy of this. The account was created as Vitalik Buterin on February 14, 2019, according to the Instagram account information data.
“What he does is show sponsored ads and get people to message him… then he scams you. That’s disgusting to be honest,” the TikTok content creator said.
See also: How to buy Ethereum (ETH)
why does it matter: In 2018, Buterin responded to a Twitter post requesting clarification regarding a project allegedly posted on his Instagram account.
I have instagram???
– Vitalik.eth (@VitalikButerin) March 25, 2018
A post on r/CryptoCurrency, a Reddit discussion board, last year also touched on the so-called Buterin Instagram account.
Screenshot by u/tmbelac showing an Instagram Live on an account allegedly belonging to Vitalik Buterin
“Currently,” he “has” a live stream going on where he says if you send 3+ ETH, you will receive 6 or more back. u/tmbelac wrote at the time, it was very clear that this was a scam.
The Federal Trade Commission said in a report last summer that Tesla Corporation (NASDAQ: TSLA) Chief Executive Officer Elon Musk Character impersonators stole more than $2 million in cryptocurrency scams.
Crypto scammers made nearly $8 billion in rug pullouts and other scams in 2021, according to Chainalysis data.
price movement: At the time of writing, ETH is trading 1.6% higher at $3802.22. On Friday, Meta Platforms shares closed 2.3% lower at $336.35 in the regular session and rose 0.3% in after-hours trading.
read the following: Hackers steal $200 million worth of Shiba Inu, Saitama and other tokens from Bitmart Exchange
Photo: Courtesy of TechCrunch via Flickr