Typically, they post a poster stating that there is an Ethereum giveaway, and to enter: one simply needs to give a small amount of Ethereum to the wallet address in the poster. This is supposedly to have the wallet address made known to the "staff" and in turn: the user will receive several times more Ethereum back.
It's clearly still roping in people and is highly prevelant. I'm shocked that Twitter's staff hasn't taken much evasive action. These spam/scam accounts keep springing up left, and right with no end in sight.
For instance I saw one scam post advertise this address a day or two ago, https://etherscan.io/address/0x7DB9656FC8435F765DF5748E32Bf3...
~15k USD worth funds scammed out of people. Not entirely sure if I find this funny or depressing.
This is why Vitalik changed his name to "Vitaliak "Not Giving Away ETH" Buterin".
In my defence, I don't use Twitter much, and I mistook the value of ETH 'Musk' was asking for at around $20 rather than $200+ - had it been my own money, I would've been far more eagle-eyed and cautious.
Still, I was amazed/horrified at the gall and success of these people.
I never cease to be surprised at how unremorsefully sociopathic some people can be when it comes to getting their hands on other people's money.
https://twitter.com/BitMEXdotcom/status/997099326714335234
The first post is from an official exchange. The rest isn’t. Take careful note of the usernames and like counts
What gets me is the stupidly obvious fake replies saying it works.
Honestly the best solution is to open verification to everyone, not just notable people, anyone that actually wants to hand over their ID and prove they are who they say they are and let us filter out non verified users. If they don't want verification to look like an endorsement, that's what they need to do. Otherwise it is an endorsement.
Another factor could be that lot of people already have Ethereum accounts, and ETH, given it is the most widely used cryptocurrency by daily transaction count. Many people have an Ethereum wallet just to be able to buy and hold ERC20 tokens.
Twitter has a long way to go.
