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Scams involving cryptocurrency continue to exist on Twitter, Elon Musk isn't...

Security

bitcoinworld.co.in 16 February 2022 03:38, UTC
  
Reading time: ~2 m

In reaction to a screenshot of a giveaway scam provided by Dogecoin co-founder Billy Markus, Tesla CEO Elon Musk once again lamented the proliferation of cryptocurrency spam on Twitter.

The billionaire has stated that the social media behemoth has been attempting to resolve the problem for quite some time.

hey @TwitterSupport can you do something about this crap? everyone on crypto twitter is getting spam added to these obvious scam lists en masse and it’s super irritating for everyone

thanks pic.twitter.com/ddQznN6OKH

— Shibetoshi Nakamoto (@BillyM2k) February 16, 2022

For a long time, Musk has been battling bitcoin scammers. Back in 2018, before the Tesla CEO became a household name in the cryptocurrency world, he raised the issue of Ethereum spambots.

Paul Graham, a venture capitalist, has remarked on the matter, claiming that Twitter’s spam detection may be too complex.

So, Musk mocked scammers with a tweet about Dogecoin in October. Scammers frequently promise to quadruple the money entrusted to them, but the billionaire turned the tables on them by offering them a far less profitable bargain.

there are no promises in crypto, except from scammers.

the people telling the truth will tell you that it's just all about risk. your profits only come from other people taking their own risk. if you lose money, you paid for someone else's risk.

ultimately, that is your choice.

— Shibetoshi Nakamoto (@BillyM2k) October 27, 2021

Musk, Bill Gates, Kim Kardashian, and other important figures are targets by Bitcoin scammers in July 2020, resulting in the largest Twitter attack to date.

According to information released by the Federal Trade Commission last year, bitcoin scammers posing as Musk made almost $2 million.

Twitter isn’t the only social media platform that has been plagued by bitcoin scammers. Musk impersonators can also be on social media platforms like Facebook and Instagram. Popular YouTube channels are also targets. Thereby, allowing for the creation of phony Bitcoin giveaway live feeds with footage of the billionaire.


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