The Tesla CEO has been consistently targeted by scammers in recent years. Who use fake accounts to impersonate him and trick people into sending them cryptocurrencies like bitcoin and ethereum. Elon Musk warned in Twitter that his followers to be aware of online crypto scams
Scammers have taken over legit Twitter accounts and transformed them to look like Musk’s. Moreover, get Twitter users to turn over bitcoin or another digital cryptocurrency for what they think is a business opportunity.
They typically involve fake accounts holding “giveaways”. Which requires people to send cryptocurrency to a digital address in order to receive a greater amount in return.
Analysis by Desi.Airdrops in 2018-19 found that more than 1200 people sent thousands of dollars worth of cryptocurrency to scammers. However, Musk claims the problem is even worse now.
Elon Musk warned in Twitter
“The crypto scam level on Twitter is reaching new levels. This is not cool.” he tweeted to his 31 million followers. “Troll/ bot networks on Twitter are a dire problem for adversely affecting public discourse and ripping people off.”
He urged followers to report any suspicious activity as soon as they see it. In order to prevent people from falling for the scams.
Twitter could also take lessons from Google, he suggested. By dropping the prominence of malicious accounts.
“Trolls/ bots just need deemphasizing relative to probably real people who aren’t being paid to push an agenda or scam,” he wrote. “Google still shows bs/ scam pages, they’re just several clicks away.”
The issue raised at a recent employee conference on Twitter. When Elon Musk appeared via video link to respond to Jack Dorsey’s question about how to improve the platform.
Musk is not the only high-profile Twitter user targeted by such scams. With many figures within the cryptocurrency community also impersonated.
The founder of ethereum, Vitalik Buterin, has consistently called on Twitter to come up with a solution as well as cryptocurrency advocate John McAfee.
The social network needs to provide more feedback to users to help them know the entity. With whom they are interacting. “A real person versus someone trying to just game the system,” Musk said in a videoconference in Houston, reported on by Bloomberg and chronicled by a video posted online.
“What people actually upset about versus manipulation of the system by various interest groups and there are many such groups,” Musk said.