Social media users interested in cryptocurrency may have come across a 0.31 BTC Promo Code STICKS, endorsed by Elon Musk himself. As it turns out, this is a scam that has nothing to do with the famous man. In this post, I will break down this scam in detail and find out how to avoid it.
0.31 BTC Promo Code STICKS Overview
0.31 BTC Promo Code STICKS is yet another fraudulent scheme circulating on the internet that supposedly gives everyone 0.31 Bitcoin for just using a promo code. Because who doesn’t love the idea of magically acquiring 0.31 Bitcoin just by typing a code? This particular scam spreads across Instagram, TikTok, and YouTube. The fraudsters behind it promise free Bitcoin using the promo code “STICKS,” allegedly linked to none other than Elon Musk.
While Elon Musk regularly promotes all sorts of questionable subject on X/Twitter, 0.31 BTC Promo Code STICKS is an obvious fraud, and has nothing to do with the aforementioned character. The scam is gaining traction through short, eye-catching videos that showcase a seemingly effortless process: enter the promo code, and Bitcoin appears in your account, ready to withdraw. Except, not really.
The scam operates through a fraudulent website called TWXBit, which, like many before it, exists solely to lure users into making a deposit they’ll never see again. By the way, we have a review for a completely similar scheme but with a different promo code. Similar to the above example, the site maintains an illusion of legitimacy with a polished interface and instant “rewards.”
However, when users attempt to cash out the crypto promised in 0.31 BTC Promo Code scam, they encounter a predictable obstacle: their accounts require “activation” through a deposit. And just like that, the con artists have pocketed your hard-earned money while you stare at a frozen balance that will never move.
How Does It Work?
The scam follows a straightforward but effective pattern. We also have a separate post about this, I recommend reading it. However, all starts with a well-crafted bait – an enticing video showing someone entering the “STICKS” promo code and receiving instant Bitcoin. The videos appear across multiple social media platforms, designed to go viral and hook unsuspecting victims. Is it worth mentioning once again that all these celebrity videos are fake. They are either slices of old videos with overlaid audio/subtitles or completely neural network generated videos.
Once a user follows the link in the video description, they land on TWXBit’s website, where they’re prompted to create an account. In fact, there are millions of such sites, and as I have already mentioned many times – they work on the same scheme. Everything appears legitimate, with a sleek design and a seemingly active platform. Upon logging in, the user enters the promo code, and the site immediately displays a Bitcoin balance. At this point, it looks like the real deal.
But when the user attempts to withdraw their “free” Bitcoin, the scam kicks into high gear. A message appears stating that their account must be activated first by making a deposit – conveniently, just a fraction of the Bitcoin they were promised. The website assures them this is a standard security measure to prevent bots and fake users. It sounds reasonable enough, so the victim transfers the money, expecting to unlock their funds.
Instead, they receive yet another message: their account now requires additional verification, usually in the form of another deposit. The more they comply, the deeper they sink into the scam. Eventually, they either realize they’ve been had or keep paying until their funds run dry. Either way, the scammers win, and the victim walks away with nothing but regret.
Why Is 0.31 BTC Promo Code Scam Dangerous?
Beyond the immediate financial loss, these scams come with another layer of danger – data theft. The registration process requires users to submit personal information, including email addresses, passwords, and sometimes even phone numbers. Scammers don’t just steal money; they also harvest these details for future attacks.
Once collected, this information often gets sold on dark web marketplaces, where cybercriminals use it for phishing, identity theft, and other malicious activities. The more widespread a user’s compromised data becomes, the greater the risk of falling victim to further scams or account takeovers.
And let’s not forget the potential for password reuse – if someone uses the same password across multiple accounts, they’ve just handed cybercriminals access to those as well. I have also detailed what passwords should be in a separate post.
To make matters worse, security tools like VirusTotal and our online scanner have already flagged TWXBit as malicious. In short, victims don’t just lose money; they risk losing control over their personal data and online security.
What Can I Do After Getting Scammed?
Unfortunately, once money is sent to these scammers under the course of 0.31 BTC Promo Code fraud, recovering it is nearly impossible. Cryptocurrency transactions are irreversible by design, making them a favorite tool for fraudsters. However, there are still a few damage-control steps to take.
First, report the video to the platform where you found it – whether that’s Instagram, TikTok, or YouTube. While this won’t get your money back, it can help prevent others from falling into the same trap. Next, contact the exchange or wallet service you used to send the funds and inform them of the fraudulent transaction. While they can’t reverse the transaction, they may flag the recipient’s wallet address and prevent further transactions to it.
Since scams like these often involve credential harvesting, it’s critical to change any passwords associated with the account you used to sign up. If you reused that password elsewhere (which, let’s be honest, many people do), change it on those accounts as well. Enabling two-factor authentication (2FA) is also a smart move to add an extra layer of security.
Lastly, ignore any messages from so-called “recovery experts” promising to get your funds back for a fee. These are just scammers on top of scammers, preying on desperate victims. If you engage with them, you’ll likely end up losing even more money.
The best defense against these scams? Awareness. If an offer seems too good to be true – especially when it involves free Bitcoin – chances are, it’s a scam. Stay skeptical, stay informed, and don’t let videos and fake celebrity names fool you.
