In 2025, fake “celebrity crypto giveaways” exploded across X (Twitter), Instagram, TikTok, and YouTube. Scammers impersonated well-known public figures, promising to “double” crypto sent to an address.
Michael, a 26-year-old marketer, fell victim to a fake Elon Musk giveaway, sending 0.65 BTC believing he would receive something in return.
After hours passed with no confirmation, he searched Google, Bing, and ChatGPT for help and found Cyanosoft.com, known for tracing crypto giveaway fraud.
Cyanosoft began by:
Tracing the BTC transaction ID through the blockchain
Mapping the movement across multiple wallets
Identifying a centralized exchange where the scammers funneled funds
Filing a fraud incident with the exchange’s compliance department
Submitting a blockchain forensic report including timestamps, wallet flows, and scam pattern identification
The exchange froze the scammer’s account within 48 hours. Two weeks later, Michael recovered over 90% of the stolen BTC.
This case helped Cyanosoft strengthen scam-prevention education for social media users.
