A millionaire really gives away Bitcoin, but is that a good thing?

The philanthropic millionaire Bill desks gave away about $ 150,000 this year In an attempt to Promote mass adoption of cryptocurrencies. However, some critics fear that this will inadvertently give legitimacy to the masses of fraudsters who use fake gifts to trick new crypto users.

Others believe that is a self-service attempt to build your public profile. Pulte has almost 3,000,000 followers on Twitter, more than the 10,000 he had in July 2019.

In one post Office July 9 on Pultes Twitter account, The millionaire said he would use CashApp to donate money to users who retweeted or commented on his posts. The next day, he had given six of his followers $ 625 to buy Bitcoin (BTC). According to consoles Donations should be used to buy this cryptocurrency because “it will be more valuable in the future.”

A millionaire really gives away Bitcoin, but is that a good thing?
A millionaire really gives away Bitcoin, but is that a good thing?

Total, So far, Pulte has given away $ 5,625 this month and more than $ 18,000 last month.. Most of Pulte’s gifts in recent months have been in Free cash and cars for some, but the millionaire is Like To give away cryptos as a means “Strengthen adoption”.

“The crypto community wastes a lot of time. If it wants mass adoption, it has to spread it on Twitter and on social media. […] Cryptocurrencies can help the world’s poorest sectors, especially non-banks. “As a philanthropist, I would therefore like to promote adoption.”

Pulte keeps an active list of all recipients of its offers, reportedly with gifts range from $ 10 to $ 15,000 this year. As the grandson of billionaire William John Pulte, he inherited part of his grandfather’s estate. As of December 2019, Consoles It says Own 11 BTC – now worth more than $ 100,000.

For every legitimate offer …

Pulte’s gifts seem real, he has a verified account, he was not shy about taking interviews and is supported by Donald Trump and from YouTubers from High level of awareness.

However, almost everyone who has ever dealt with cryptocurrencies has likely seen a free gift scam, and social media such as Twitter are often the gateway. The “gift” usually involves the user sending a small number of cryptos to “check their address” to get a much larger amount. Of course, they never get anything.

according to Ilia Rozhnov, Head of the Brand Protection Team at Group IB a cybersecurity company in Asia Pacific, fake cryptocurrency gifts are “scammers’ favorite tricks”. Group IB You have observed the dangers of fraudsters who take legitimate gifts.

“Fake gifts have a huge impact on the reputation of brands and celebrities whose names are used by fraudsters.”said. “It is important that brand owners constantly monitor and block any type of online scam that uses their names.”

Rozhnov’s team discovered a clear example in 2018 when a fake Twitter account pretending to be Telegram founder Pavel Durov announced a fake cryptocurrency handover in response to a real tweet about a network power outage. According to Group-IB Fraudsters cheated users with $ 59,500 within hours.

Pulte gives his followers money to buy BTC, which means Someone could cheat desperate and unsuspecting people by pretending to be them.

Cointelegraph reported that Fraudsters have stolen around $ 24 million so far in 2020 alone. Some of them have claimed to be Elon Musk from SpaceX and Brian Armstrong, CEO of Coinbase.

Help the poor or help badly?

Cameron LeBlanc from Paternal said Actions They seemed to have little to do with “Twitter philanthropy,” as he puts it, and more to do with the picture:

“He looks nice from his face, a very generous guy who gives to those who have little. But if you think about it and see how desks do it, the whole thing is depressing. This is a guy who has a birth accident He inherited a lot of money from people who didn’t, a selfish effort to build a public profile around the mood instead of having a real impact. “

Cointelegraph has asked Bill Pulte for his opinion and will update this story if we get an answer.

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