ETH Bots Run Rampant While Twitter Claims to Ban Lookalike Accounts

According to reports the social media platform Twitter has been deleting millions of fraudulent accounts per day, and stated during the first week of July that it suspended more than 70 million accounts throughout May and June. However, the cryptocurrency industry is still plagued by tons of ETH scam-bots pretending to be bitcoin luminaries and this scheme has made these particular fraudsters millions.

Also read:BCH Roundup: Steady Development, Market Uptrends, and New Apps

Twitter Says The Company Has Suspended 70 Million Phony Accounts, But Bots Still Plague the Twitter-Sphere

Over the last few weeks, had written about the various Twitter scams and fake Ethereum giveaways that can be found throughout lots of conversations within the cryptocurrency industry. Some developers have even been working on cryptographic solutions that can weed out the vast amount of lookalike Twitter scammers. The massive amount of phony accounts use a persons profile picture, the same username, and these frauds typically jump into a conversation following a hot tweet and push their ETH giveaways.

Phony John McAfee and Tone Vays Twitter accounts. Screenshots were taken on July 15, 2018.

An example giveaway is you give them 5 ETH, and they say they will give you 50 ETH in return after the funds are sent. This particular trick, even though its pretty obvious to some people, has been able to help these imposters acquire millions of dollars worth of Ethereum. Then just last week Twitter detailed to the media that they have thrown the ban-hammer down on fake accounts and have been suspending millions a day.

ETH Bots Run Rampant While Twitter Claims to Ban Lookalike AccountsAccording to the Washington Post, the social media giant suspended 70 million accounts throughout May and June. Even though in the cryptocurrency ecosystem, these bots or spammers are in full force impersonating cryptocurrency figures, executives, and even digital asset exchanges like Binance. Yet the bot problem has also plagued movie stars, musicians, and political parties as well. A researcher from a Palo Alto-based think tank, Samuel C. Woolley, believes Twitter should be doing more to prevent spammers and bots.

When you have an account tweeting over a thousand times a day, theres no question that its a bot, said Woolley, at the Digital Intelligence Lab at the Institute for the Future.

Twitter has to be doing more to prevent the amplification and suppression of political ideas.

A fake Binance exchange Twitter account. Screenshot was taken on July 15, 2018.
Crypto-Luminaries,Bigwigs, and Exchanges Are Not Giving Away 200 ETH

Even though Twitter claims they have been banning millions of fake accounts the problem is still happening within the cryptocurrency industry. Lots of cryptocurrency bigwigs are being copied by look-alike accounts still to this day. For instance, on July 15 the writer and speaker Andreas Antonopoulos shared a tweet of one of his latest talks. After the tweet, a phony CZ pretending to be the CEO of Binance states:

A nw prmtion with supprt is available tday Get 200 ETHEREUM in your wallet now. You n use n wallet or exchange (Fr example: Coinbase, Binance, and others) or use a smart contract. If youre Iate for this event, youll get your investment bk immediately!

Unfortunately, the ETH scam bots are alive and well on Twitter and are still able to spawn new accounts after the company claims to have thrown down the ban hammer. For now, these cryptocurrency scammers dont seem to be going anywhere soon.

Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action!

16.07.2018 / 15:00 67
Ethereums (ETH) Vitalik Buterin Appeals to Twitter Founder to Fight Scam Bots Ethereums (ETH) Vitalik Buterin
Ethereum (ETH)In a momentous occasion for all of cryptocurrency, particularly Ethereum, the founder of Tesla and SpaceX Elon Musk made his first
Even Elon Musk is Talking About Twitters Crypto Scambot Epidemic Even Elon Musk is Talking About
Scam bitcoin and ether giveaway bots have started to target the accounts of high profile figures outside of the crypto community, such as SpaceX and
Since Twitter Wont Stop Crypto Scammers, These Services Will Since Twitter Wont Stop Crypto
One of the most maddening things about lookalike Twitter scammers has been Twitters unwillingness to do anything about them. Its not a complex
Censorship, Bans, and ETH Scams: Twitter Suspends Bitmains Official Account Censorship, Bans, and ETH Scams:
[b]This week the Twitter handle @Bitmaintech was locked down because Twitter administrators claimed the account belongs to a 4-year-old. The Twitter
Twitter Experience Worsens, Ether Fake Giveaways Taking Over Twitter Experience Worsens, Ether Fake
Fake ether token giveaways are clogging Twitter threads, and seemingly by the second. Targeting well-known ecosystem figures, doppelganger accounts
Twitter Bots Cryptocurrency Impersonation Scam Nets $1,500 Twitter Bots Cryptocurrency
Twitter bots impersonated dozens of prominent cryptocurrency traders in a phishingscam for three days before areporter at BuzzFeed called the
Comments (0)
Add a comment
Comment on