Twitter Found the Solution to Bitcoin Scams, No More Cryptocurrency Addresses Allowed
It was this easy, just not let anyone post cryptocurrency addresses on Twitter, no more crypto scams.
When trying to post a tweet containing a cryptocurrency address, Twitter prompts the message “Something went wrong, but don’t fret — let’s give it another shot” in a glaring red strip.
ℹ️ Due to anti-hack measures taken by Twitter the Whale Alert bot can no longer post any transfers and we cannot manually add them either. We hope Twitter will resolve the issue soon. Transfers are still being posted to our Telegram channel: https://t.co/vVRNZuovHX
— Whale Alert (@whale_alert) July 16, 2020
Well, given that hackers are smart and always one step ahead of companies, it won’t be long before they find a solution. They don't even need addresses; their one-page website seems to do the trick already. Soon, deep-fakes are expected to “revolutionize the scam market” already, as reported by the Crypto Whales in its report.
Moreover, companies are not proactive, it takes several attempts to report a scammer, and it still doesn't get it down.
Twitter’s latest ban of crypto addresses altogether from the social networking platform could be just a fix before they find the solution, which comes after last night’s major Twitter accounts including the likes of Elon Musk, Jeff Bezos, Bill Gates, Barack Obama, Joe Biden, Kanye West and many more getting hacked and used to promote bitcoin-related scams.
Twitter is currently investigating the hack, which is believed to be a “coordinated social engineering attack” by using the “internal systems and tools.”
All the accounts hacked asked people to send them bitcoin in order to get it double, and the hacker was able to swipe nearly 13 BTC, worth about $120,000.
These kinds of scams aren’t anything new. They have been going on for a long time, given that the scammer was able to get only 13 BTC out of it.
As we reported, in just the first six months of 2020, scammers made off with about $24 million in BTC, which is predicted by Crypto Whale to reach $50 million by this year-end, over twenty-fold since 2017.
Also, BTC giveaways bearing the name of Tesla CEO and the founder and CEO of SpaceX, Musk has already been raking in more than $2 million in a matter of months.
He urged people to “report [the scam] as soon as you see it,” and encouraged Twitter to delete the bots and scammer accounts.