Scammers have Set Up a Fake Website by the Name of MicroStrategy to Scam People

MicroStrategy has recently crossed the milestone of accumulating more than 100,000 Bitcoin. The crypto enterprise has become the largest holder of Bitcoin in the world. Interestingly MicroStrategy was the first-ever commercial enterprise to add Bitcoin to its balance sheet. The quarterly reports show that there are massive returns in the company capital and shares revenue due to the addition of Bitcoin.

However, despite extraordinary growth, MicroStrategy is not hosting any Bitcoin or Ethereum giveaways. Scammers have set up a fake website called to lure unsuspecting victims into giving up their crypto income and savings. The scam stands to take advantage of the goodwill of the business intelligence enterprise to further their unlawful agenda.

The Scammers are Using a Purchased YouTube Channel to Promote the Crypto Scam

The threat actors have become more sophisticated and elaborate in their stride. As news forums and media outlets have become more active in reporting on crypto scams to intercept their operations, scammers are finding new ways to deceive their victims. The con-artists behind the MicroStrategy scam are doing the same. A new YouTube account impersonating MicroStrategy has emerged out of nowhere.

The channel already has 6 million subscribers. The channel has uploaded a video streaming an old interview of Michael Saylor as a live event. The channel claims that the company is hosting a free Bitcoin and Ethereum giveaway. In the same fashion, victims are required to send a certain amount of their holding to a distant wallet first and wait for a doubling of their income. 

The authentic YouTube channel of MicroStrategy has about 20,000 subscribers only. There are no mentions of any type of free crypto giveaway event on the channel. Meanwhile, the fake account claims that by sending Bitcoin and Ethereum to a fake address, the enterprise will double the income. The links in the description cited a fake website as well as a digital wallet address.

It should be noted that MicroStrategy does not deal in Ethereum at all. Sending any cryptocurrencies means a guaranteed loss. Scammers have moved 13 Bitcoins out of the wallet and have 12 Bitcoins stored to make the scam more believable. Meanwhile, the ETH has only seen inflows from victims who have lost 20 ETH within 3 hours the fake account went online.