Crypto Scammers Hack Tanzanian Billionaire’s Account, Steal $1.48 Million
Mohammed Dewji’s Social Media Hijacked to Promote Fake “Tanzania Token”
Tanzanian billionaire Mohammed Dewji recently fell victim to crypto scammers who hacked his social media account and used it to promote a fraudulent digital asset, the so-called “Tanzania Token.” The scam, which leveraged deepfake technology, targeted Dewji’s 2.2 million followers, resulting in significant financial losses for unsuspecting investors.
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Fake Token Scam Exploits Dewji’s Influence
On February 5, Dewji discovered that his social media account had been compromised. Cybercriminals used the opportunity to push the fake cryptocurrency, deceiving followers by making it appear as if Dewji himself was endorsing the project. The scammers posted detailed instructions on how to purchase the fraudulent token, aiming to lure in unsuspecting investors.
A Forbes report revealed that the scammers even went a step further by deploying deepfake videos featuring a person who closely resembled Dewji. In one of these manipulated clips, the fake Dewji falsely assured followers that his account had not been hacked and urged them to invest in the Tanzania Token. This tactic was intended to build trust and convince followers to proceed with purchases despite suspicions.
Dewji Denounces the Scam, Issues Warning
Once Dewji regained control of his account, he immediately took action to warn his followers. In an official statement, he apologized for the incident and strongly condemned the fraudulent activity.
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“We sincerely apologize for the recent incident involving fraudulent posts impersonating Mr. Mohammed Dewji and attempting to scam individuals,” Dewji stated. “These actions are unacceptable, and we firmly condemn them.”
Dewji also credited the social media platform X (formerly Twitter) for responding swiftly and assisting in restoring his account. He urged his followers to remain cautious and to verify all investment opportunities before engaging.
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Scammers Steal $1.48 Million
Despite Dewji’s quick response, reports suggest that the scam successfully deceived several investors. According to blockchain analysis firm Lookonchain, victims collectively lost approximately $1.48 million.
Further investigation revealed potential links between the Tanzania Token scammers and a separate crypto fraud incident involving former Brazilian President Jair Bolsonaro. In January, hackers took over Bolsonaro’s social media account and used it to promote another fraudulent cryptocurrency, leading to investor losses of around $1.3 million.
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Growing Threat of Social Media-Based Crypto Scams
This latest incident highlights the increasing use of high-profile social media accounts to execute crypto scams. By hijacking the accounts of influential individuals and leveraging deepfake technology, scammers are able to deceive large audiences, often leading to substantial financial losses.
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To protect themselves, investors are urged to conduct thorough research before engaging with any cryptocurrency projects and to verify information directly from official sources. Experts also recommend enabling two-factor authentication (2FA) on social media accounts to reduce the risk of hacks.
With the rise of crypto-related fraud, authorities and social media platforms continue to face challenges in combating cybercriminals who exploit public trust to execute sophisticated scams.
