KEY POINTS

  • Michael Saylor Giveaway Scam address is still active: Whale Alert
  • Whale Alert says two separate transactions made to the address
  • Victims sent 1 BTC in one transaction and another 2 BTC in a second transaction

Michael Saylor, one of the biggest names in the crypto industry and the CEO of MicroStrategy, is known for his bullish stance on cryptocurrencies. However, many imposters are also known to take advantage of the popularity of such big industry players and scam unsuspecting investors.

A scam was pulled off in the name of Michael Saylor, as first reported by WhaleAlert, a crypto tracking tool, on Nov. 21, when a payment of 3 BTC ($178,608) was sent to an address that posed as that of Michael Saylor. The scam was executed via https://mstrategy.io/bit, per BeInCrypto.

The scammers in such cases pose as a celebrity and promise to double or triple the sum sent to them in a short period of time. It seems that the scam is not dead: the scamsters seem to have succeded in enticing one more crypto investor to send a payment of 1 BTC to the same address again, pointed out Whale Alert on 1:19 p.m. ET on Thursday.

In another tweet Whale Alert pointed out that still another payment, this time for 2 BTC, was made to the Michael Saylor Giveaway scam address at 3:23 p.m. ET.

This scam Bitcoin address currently holds zero BTC. The history shows that the address has received a total of 87.31228759 BTC and transferred the entire lot to another address. As of 2:46 a.m. ET, this amount equals $4,096,779.85.

Crypto scams are increasing in number by the day, and recently a group of scammers joined hands to scam people via the Squid Token (SQUID), named after the popular Netflix show. The loss was estimated in millions of dollars.

Bitcoin, the world's biggest cryptocurrency, hit a record-high $66,000 last month after taking another step towards mainstream status
Bitcoin, the world's biggest cryptocurrency recently hit a record-high of over $69,000. AFP / Ozan KOSE
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