Crypto giants criticize Twitter on scam, bot accounts impersonating them – CryptoSlate





The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $20,151.74 and BTC market dominance is %. The price of Ethereum is $1,345.57 and ETH market dominance is %. The best performing cryptoasset sector is Education, which gained 55%.
The Right Place to Buy, Earn, Exchange and Borrow against Your Crypto.
Vitalik Buterin has described the bot menace as a “complete failure of blue checkmarks in their current form.”
Cover art/illustration via CryptoSlate
Stakeholders in the crypto community are complaining about the prevalence of scam bots accounts on Twitter, urging the social media site to find a solution to the menace.
Ripple’s (XRP) CEO Brad Garlinghouse shared a mail where the social media platform refused to block an account impersonating him, saying the account was “not in violation of Twitter’s misleading and deceptive identities policy.”
I can’t believe I’m still doing this – @TwitterSupport, it’s embarrassing when you can’t distinguish a real profile from a fake one. Verified scam accounts are now replying to tons of crypto tweets with my image, @VitalikButerin’s or @CZ_Binance’s. (watch it happen to this tweet) pic.twitter.com/wx9LzR75YR
— Brad Garlinghouse (@bgarlinghouse) October 3, 2022

According to Garlinghouse, the social media site’s inability to stop the menace has allowed scammers to take advantage of thousands of unsuspecting individuals.
Before Ripple’s CEO complaints, stakeholders like Binance CEO Changpeng Zhao, Ethereum (ETH) cofounder VItalik Buterin and Cardano’s (ADA) founder Charles Hoskinson have raised issues about the prevalence of these bot accounts impersonating them.
CZ revealed that scammers now buy accounts he follows.
pic.twitter.com/EHN3bGmEDQ
— CZ 🔶 Binance (@cz_binance) September 28, 2022

The Binance CEO shared a screenshot where someone claimed they were offered $100,000 to shill a project under his tweet, with two other users sharing screenshots of scammers offering to buy their account for $10,000 and $5,000 because CZ follows them.
CZ’s account is private, meaning only those he follows or mentions can comment under his tweets.
Hoskinson also alerted his followers to a fake verified account with his name, urging them to help report it.
Fake verified hoskinson. Please report https://t.co/sRWKdSsQpt
— Charles Hoskinson (@IOHK_Charles) September 22, 2022

Meanwhile, Buterin has described the bot menace as a “complete failure of blue checkmarks in their current form.” According to him, Twitter should be turned into an open API where third parties are involved in helping to solve the problems.
So many scam accounts have blue checkmarks these days.
Seems like a complete failure of blue checkmarks in their current form. I'm definitely seeing the wisdom of turning twitter into an open API and letting third parties try to make the best UIs to solve these problems. pic.twitter.com/CIwAdpRAkv
— vitalik.eth (@VitalikButerin) October 1, 2022

Before the proliferation of bots on Twitter, the social media site had been used by malicious players to carry out several scam acts.
The accounts of notable names in the space, like Beeple, alongside non-players in the industry like the British Army, have previously been hacked to promote crypto scams.
Elon Musk had raised Twitter’s bot issues while he was trying to acquire the firm. According to the Tesla CEO,  his investigations into the social media company showed that bot accounts on the platform were more than the official figure released by the firm.
However, Twitter’s CEO Parag Agrawal has maintained that bots account for less than 5% of the platform’s users. The social network and Musk are currently embroiled in a legal tussle over the $44 billion acquisition deal.

Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers. Learn More
Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Learn More
Brad Garlinghouse is CEO of the financial technology company Ripple, which builds financial products for the XRP cryptocurrency. Learn More
Vitalik Buterin is the creator of Ethereum, the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
Charles Hoskinson is a Colorado-based technology entrepreneur, mathematician, and blockchain enthusiast. Learn More
South African-born Elon Musk has founded several companies, including X dot com (which later became PayPal), SpaceX and Tesla Motors. Learn More
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger. Learn More
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Learn More
Hoskinson predicted that more wrapped Bitcoin would be on other blockchain networks in the next five years.
Elon Musk offers $54.20 per share for Twitter as deal is back on the cards and possibility of Dogecoin integration re-emerges
Thallo’s platform will bring buyers and sellers of high-quality carbon credits together.
The 166 year-old bank is struggling amid a series of disastrous events, but Justin Sun is willing to buy Credit Suisse assets and bring them into Web3.
Bitcoin set to reclaim safe haven narrative as it decouples from S&P 500, Ethereum losing NFT trading volumes to Solana, and much more in this edition of CryptoSlate Wrapped Daily.
The lack of “ponzinomics” has VCs presently looking elsewhere. However, as Cardano’s dApp ecosystem takes off, Hokinson sees VCs money coming.
Bitcoin is holding steady as rumors of banking collapse circulate — some observers see this as the start of cryptocurrencies “decoupling” from legacy finance.
XRP soared over 10% as court orders SEC to hand over Hinman document to Ripple Labs.
US citizens who had sent cryptocurrency to Tornado Cash but did not complete the mixing transaction before the sanctions can apply for a withdrawal license from the OFAC. 
Google Cloud blockchain developer Sam Padilla showcased the latest update to Google Search which includes a real-time Merge countdown with merging pandas
Terra Classic’s come back is made all the more evident as recent price spikes now place it 26th biggest project by market cap.
An FTC report states that Meta’s Instagram facilitated 32% of scams reported on social media, while Facebook and WhatsApp were cited 26% and 9% of the time, respectively.
Anand Sithian and Carlton Greene talked about the sanctions on Tornado Cash and agreed that it could have certain implications for the future of DeFi.
A weekly recap of key Bitcoin metrics and the macro factors affecting its price performance in the market, published every weekend.
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2022 CryptoSlate. All rights reserved. Terms | Privacy

Please add [email protected] to your email whitelist.
Stay connected via

source



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.