Back

Crypto-Market Drops 10% in Just One Day

As more Twitter users are demanding that the social media platform take stronger action and ban these misleading bots, it seems as if Twitter itself is encouraging users to follow the scam bots. Recently, Twitter was discovered to have suggested a fake account on Twitter acting as the official account of Elon Musk, the chief executive officer of Tesla, which was noted by Troy Mursch, a security officer.

Misleading

Through further examination, the fake account was distributing links that would lead to a clear scam involving an Ethereum giveaway which has recently risen as a new method of scamming unsuspecting users. It has since been removed from the network after its discovery. What raises even more worries is that this is not the first time Twitter has suggested following a malicious account like this.

The Twitter algorithm appears to be suggesting clearly fake accounts to its users as Troy Mursch has said. Since then, it has been confirmed that a few of the accounts suggested by Twitter were indeed spreading links that would lead unaware users to fake ETH and BTC giveaways and were also labeled as “official” giveaways by a few actual companies considered legitimate businesses. A few of the companies that had fake accounts act on their behalf were Coinbase, Binance, Tesla as obvious through the Elon Musk impersonation and more.

Although all the fake posts that were located have since been deleted, a few suspicious links on Yandex, Google’s Russian counterpart, were still operational and would lead to these scamming giveaways although the wallet link which was part of the posts was inactive and leads to questioning how much traffic these links were actually acquiring.

According to researchers, around 15K scam bots have riddled Twitter’s platform. Earlier this year, BleepingComputer provided records of a certain group on Twitter carrying out scams that would result in $5K worth of ETH on a daily basis. Cepicap, a crypto-news website, interviewed an individual that was operating a spam bot, stating it would net him anywhere between one hundred to two hundred Ether every single day, accumulating to around $40K.

Twitter is meant to be fully focused and dedicated to eradicating the infectious spambot situation as they continue to plague the platform and con more users every day. Jack Dorsey, the chief executive officer, has stated repeatedly that the company would be taken every possible measure to end these scams and the bots. Elon Musk, on the other hand, has applauded spam bots in the sense of their persistence, not to be confused with supporting them.

2 years ago

Start Weekly Digest

Similar news