The crypto industry continues to become a hotbed of scammers devising means to steal people’s funds through various forms of attack. But have you also heard about Bill Gates giving away Bitcoin? So, as there are stories around some of the biggest crypto scams in history, let’s have an understanding of what this supposed Bill Gates Bitcoin giveaway is all about, including the tactics employed by malicious entities to target their victims.
What Is Bill Gates Bitcoin Giveaway Scam?
The Bill Gates Bitcoin giveaway scam involves fraudulent schemes in which scammers impersonate American billionaire Bill Gates to deceive unsuspecting individuals into believing they will receive free Bitcoin.
This started with a fake ad circulating across social media platforms like TikTok, Instagram, YouTube, and Facebook – claiming that Bill Gates is giving away $100 million in Bitcoin. The announcement created a sense of urgency and excitement among the potential victims, such that they started to visit the scam website and use some promo codes provided to them.
Red Flags Of Bill Gates Bitcoin Giveaway Scam
1. Bitcoin Deposit And Activation Fee
The scam website makes a false claim that victims would receive Bitcoin. Then, they will be asked to pay a little “activation fee” to withdraw the free Bitcoin. Scammers use this mandatory fee to steal money.
2. Exploiting Celebrity Names
Scam websites use names of prominent persons like Elon Musk, Jeff Bezos, Mark Zuckerberg, etc., to get people into thinking the giveaways are real. These false claims are part of the scammers’ strategy to exploit unsuspecting victims.
3. Lack Of Transparency And Duplicate Content
There is always a lack of transparency with duplicate content on the scam website. This includes no contact details, which can elicit suspicion about the fraudulent site.
How Bill Gates Bitcoin Giveaway Scam Works
As the founder of Microsoft, Bill Gates’ affluence and influence have made him become a target of scammers seeking to exploit his reputation. Hence, it gave rise to a new crypto scam, different from a fraudulent scheme like the OneCoin scam, which operated as a Ponzi scheme.
Here, the scammers use deepfake videos of Bill Gates promoting fake Bitcoin giveaways. The deepfakes use advanced AI (artificial intelligence) to replace Bill Gates’ face and voice, thereby making it real without further doubt.
According to the videos, the American billionaire provides a step-by-step guide on how to claim free Bitcoin. It encourages viewers to create an account on the recommended crypto exchange site. Also, people must enter a special promo code – usually “GATES” or “MICROCOIN,” which are in a way related to Bill Gates’ Microsoft firm.
He claims in the video that users will be able to receive a free Bitcoin deposit of about 0.31 BTC when they use the code. But, they must complete ID verification by making a minimum deposit of 0.005 BTC to activate eligible withdrawals.
Here is the bait. The crypto platforms that are being promoted are completely fake sites used and controlled by scammers. When you deposit real Bitcoin, the funds go directly into the fraudsters’ wallets. Therefore, the “verification” requirement is just a strategy to steal real Bitcoin.
Some of the fraudulent domain names used are:
- GatesCoin.com
- XboxCoin.com
- Microsoftexchange.com
- BillBTC.com
How To Protect Yourself From The Scam
1. Be Skeptical Of Unsolicited Messages
The skepticism about unsolicited messages claiming to offer free BTC, especially the ones endorsed by Bill Gates, is important to avoid falling into scams. Therefore, verify the messages by independently researching the individuals or organizations behind them.
2. Do Not Share Personal Information
Avoid sharing personal information that relates to your password or financial details, as scammers, just like the ones behind the Bill Gates giveaway, can use the data for fraudulent purposes. You must take data protection seriously in this digital age to prevent identity theft, cybercrimes, and financial fraud.
3. Research Before Investing
It is imperative to do the due diligence of research before delving into any investment opportunity. This would guide and enable you to spot Bitcoin scams that could put you at risk of financial loss.
Frequently Asked Questions (FAQs) About Bill Gates Giving Away Bitcoin
Is The Bill Gates Bitcoin Giveaway A Legit Opportunity?
No, the Bill Gates Bitcoin giveaway is a scam. There is no supporting evidence that Bill Gates is involved in any form of Bitcoin giveaway.
What Is Bill Gates Bitcoin Giveaway Scam All About?
The giveaway scam involves the use of fake social media posts or emails to make people believe that Bill Gates is giving free Bitcoin.
What Happens If I Participate In The Bill Gates Bitcoin Giveaway?
You may be asked to provide personal information or send money, ultimately leading to identity theft or financial loss.
How Can I Protect Myself From Falling For Bill Gates Bitcoin Giveaway Scam?
You can protect yourself by being hesitant to get involved in offers that are too good to be true. Therefore, you need to research the legitimacy of the offer and do not give your personal information or send funds to participate in a giveaway.
Conclusion
The idea that Bill Gates is giving away Bitcoin is fake. It is a plot by fraudsters to steal unsuspecting individual’s funds in Bitcoin, which is part of the crypto scams that are becoming prevalent in our world today. Therefore, it is important to be wary of this attack that has cost victims millions in Bitcoin deposits.
