According to CryptoComLearn, the official Twitter account of Kevin O'Leary, the Shark Tank investor known as “Mr. Wonderful,” was hacked on Thursday and used to promote a fake cryptocurrency giveaway scam. The hackers posted tweets claiming that O'Leary, having made substantial profits from crypto over the past few years, was giving away 5,000 bitcoin and 15,000 ether — a classic social media giveaway scam.
How the Scam Unfolded
The compromised account not only posted the fraudulent giveaway announcement but also attempted to dismiss concerns by stating that the account was “not hacked” and the giveaway was “not a scam.” It further claimed that O'Leary had announced the event on CNBC the night before, a false statement. The malicious tweets were removed by Twitter a few hours later. The link shared in the first tweet directed users to a website designed to look like an official O'Leary giveaway page. However, the site prominently featured the Tesla logo at the top and was hosted on a domain containing the word “Tesla,” clearly repurposed from previous scams targeting Elon Musk and Tesla.
The fraudulent site asked participants to send a small amount of cryptocurrency to a specified address to “verify” eligibility, a classic tactic to steal funds. Such giveaway scams are widespread across social media platforms including Twitter, YouTube, Facebook, and Instagram. Hackers frequently compromise verified accounts of celebrities, politicians, and corporations to lend legitimacy to their schemes.
Historical Context and O'Leary's Controversy
Major incidents include the July 2020 Twitter hack that affected accounts of Apple, Google, Barack Obama, Bill Gates, Jeff Bezos, and others, all used to promote a bitcoin giveaway. More recently, Pakistani politician Imran Khan's Instagram account was used for a similar scam involving Musk, and the British Army's official YouTube and Twitter accounts were breached in July 2022 for a bitcoin giveaway. These recurring events underscore the persistent threat of account takeovers in the crypto space.
O'Leary himself has been a controversial figure in the crypto community. He was paid approximately $15 million to serve as a spokesperson for the now-collapsed FTX exchange. Despite FTX's meltdown, O'Leary defended former CEO Sam Bankman-Fried, calling him a brilliant trader and stating he would back him again. This latest hacking incident adds another layer of concern regarding the security of high-profile crypto advocates and the potential for their platforms to be weaponized.
Security Recommendations: Users should never click on unsolicited giveaway links or send crypto to addresses that require an upfront fee. Platforms must enhance security measures, including mandatory two-factor authentication for high-profile accounts.