Bitcoin Peddlers Impersonates Maltese Prime Minister on Instagram

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The Malta Independent recently reported how Prime Minister Joseph Muscat was impersonated by a group of scammers who created a fake Instagram account in his name to try and peddle a Bitcoin investment scheme.

With Malta being a beacon for cryptocurrency and Muscat being a well-known proponent of crypto and blockchain technology, The prime minister is seemingly a good choice for such a scam.

The identity thief reached out to an individual named “Wang Wei”, to entice him to put funds into a Bitcoin investment scheme, promising an “enormous return on investments within a month’s time.”.

The ‘recommendation’ to speak with Wang Wei was posted on Wednesday— fraudulently in the Prime Minister’s name. Soon after it was removed from Instagram.

The popularity of cryptocurrencies like Bitcoin mean there’s no shortage of opportunistic scammers who are looking to impersonate others in hopes of cashing in.

Prime Minister Muscat’s actual Instagram account has 15,000 followers and is verified by a blue checkmark. The page’s biography notes how the account is run by the Labour Party.

The people behind the fake account for Prime Minister Muscat remain a mystery.

Read More: https://news.bitzamp.com/bitcoin-peddlers-impersonates-maltese-prime-minister-on-instagram/