Reportedly 80% of comments on X (Twitter) from famous Crypto projects are occupied by scammers

SlowMist reported that the majority of the scammers use names of popular crypto projects to conduct phishing attacks via the X platform.

X (formerly Twitter) was acquired by Elon Musk in late 2022 and he introduced multiple changes in the X platform. In the initial phase of changes, Musk started his fight against spammers & bot accounts, to make the ecosystem of X better for the users. 

On 30 Jan 2024, Crypto & blockchain security firm SlowMist reported that they got several reports on scam & theft attacks and found that the majority of the crypto bad actors are engaged on the X platform to easily target the victims.

The report noted that these crypto scammers are using names of popular crypto projects to easily target the victims. For example, they create a fake X account “Optimlzm” mimicking the real “Optimism” account. 

SlowMist noted that such ideas are very helpful for these bad actors to catch attention and easily conduct phishing attacks.

According to SlowMist, such attacks can be stopped by the optimization of Anti-Phishing Plugins, the key to solving the problem. 

Interestingly these hackers don’t create such fake accounts themself, instead, they purchase them from a special website where some people provide such misleading crypto Twitter accounts for different purposes e.g huge X user attention, promotions, etc.

SlowMist also shared an old screenshot of a similar kind of phishing scam, where a bad actor used a fake account of Optimism (a popular crypto project) 

If we look toward the X account hacking incidents then we will find in the last 1 year of the period, hackers hacked multiple X accounts belonging to the crypto sector. 

This month, an unknown hacker successfully hacked the American securities regulatory body’s X account & published fake information “the SEC body approved Bitcoin spot ETF applications”.

With that hacking incident, the hacker successfully manipulated the trade price of Bitcoin by nearly 5%.

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