Crypto Scammers Target Tanzanian Billionaire’s Followers, Net $1.48M

Tanzanian billionaire Mohammed Dewji’s social media account was recently hacked by crypto scammers who promoted a fake digital asset, the “Tanzania token.”

Tanzania Token

The social media account of Tanzanian billionaire Mohammed Dewji was recently hacked by crypto scammers, who promoted a fake digital asset to his 2.2 million followers. The scammers used a deepfake to convince followers to buy the token and provided instructions on how to do so.

According to a Forbes report, Dewji discovered the hack on Feb. 5 and quickly distanced himself from the crypto project. He also reported the incident to the social media platform X. Despite this, the scammers continued to post videos promoting the “Tanzania Token.” In one post, which has since been removed, a man resembling Dewji claimed his account had not been breached and urged followers to buy the token.

However, about 24 hours later, Dewji, who had regained control of his account, issued a statement apologizing and warning users to be cautious of hackers.

“We sincerely apologize for the recent incident involving fraudulent posts impersonating Mr. Mohammed Dewji and attempting to scam individuals,” Dewji said. “These actions are unacceptable, and we firmly condemn them.”

Scammers Net $1.48 Million

Dewji also credited the X team for quickly resolving the issue, allowing him to regain full control of his account. In a statement, the billionaire also warned his followers to be cautious of scams and to rely only on his official social media channels for accurate information.

Despite the swift response, a Forbes report citing Lookonchain’s analysis noted that some investors fell victim to the scam, losing $1.48 million. The report also linked the scammers behind the Tanzania token to hackers who breached former Brazilian President Jair Bolsonaro’s account in January. According to crypto scam tracker Zachxbt, scammers impersonating Bolsonaro stole digital assets worth $1.3 million.

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