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“Sinister Scam” warning: Is this Vitalik Buterin Instagram account with over 574,000 followers really real? – Ethereum – US dollars ($ ETH)

A fraudulent account that claims to be part of it ether (CRYPTO: ETH) co-creator Vitalik Buterin on Instagram, the social network of Meta Platforms Inc (NASDAQ: FB) reportedly employs over 570,000 people in sponsored paid advertising and a staking scam.

What happened: The 24-post Instagram page features a picture of Vitalik Buterin that is remarkably similar to that of the Ethereum founder on his Twitter profile.

A screenshot showing the account that supposedly belongs to Vitalik Buterin

There’s even a link to Buterin’s blog to add a touch of authenticity to the unchecked Instagram page.

Yoloswag monsters, a content creator at TikTok, called the Instagram page a “gritty scam”. He said the fraudulent account is based in Israel and that “some of the former usernames on that account also attempted to be Vitalik”.

The three usernames referenced by Yoloswagmonster in the TikTok video are all from 2019. Benzinga has confirmed this to be correct. The account on behalf of Vitalik Buterin was created on February 14, 2019 according to the account information data from Instagram.

“What he does is run sponsored ads and get people to message him … then he implicates you in a staking scam. That’s honestly disgusting, ”said the TikTok content creator.

See also: How to Buy Ethereum (ETH)

Why it matters: In 2018, Buterin responded to a Twitter post asking for clarification on a project that was allegedly published on his Instagram account.

i have an instagram ???

– vitalik.eth (itVitalikButerin) March 25, 2018

A post on r / CryptoCurrency, a Reddit discussion forum, also went into Buterin’s so-called Instagram account last year.

A screenshot by u / tmbelac showing a livestream on Instagram on an account supposedly owned by Vitalik Buterin

“Right now ‘he’ has a live stream that says if you send 3+ ETH you will get 6 or more back. This is obviously a scam, ”wrote u / tmbelac at the time.

Last summer, the Federal Trade Commission said in a report that Tesla Inc (NASDAQ: TSLA) CEO Elon Musk Impersonators stole over $ 2 million in cryptocurrency scams.

According to Chainalysis data, cryptocurrency scammers made nearly $ 8 billion in rug pulls and other scams in 2021.

Price action: At the time of going to press, ETH was trading 1.6% higher at $ 3,802.22. On Friday, Meta Platforms stock closed 2.3% lower at $ 336.35 in the regular session and rose 0.3% in after-hours trading.

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Photo: Courtesy TechCrunch via Flickr

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