Elon Musk Praises Crypto-scammers on Twitter for their “Mad Skillz”

Karan Balwani

Karan Balwani

July 10, 2018 2:17 pm

Cryptocurrency News

Elon Musk Praises Crypto-scammers on Twitter for their “Mad Skillz”
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Ever since Cryptocurrency first came into existence, there has been no shortage of scams and duping. In fact, people are conned out of thousands of dollars every day.

Twitter has been a preferred place for scammers to introduce spambots that have been wildly successful in convincing users to part with their money. These posts usually take a form of giveaways or claim to double one’s coins. The golden rule is “If it sounds too good to be true, it probably is.”

Blockchain influencers keep sharing the latest scams with users in hope of increasing awareness, however, spambots are getting smarter as well, they come up with even more elaborate and legitimate looking banners which trick users into believing.

There have been several appeals made by users to Jack Dorsey, Twitter CEO to place measures to keep these scams in check.

There is an existing bug which allows verified users to change their usernames without losing their badge of verification. This has led scammers to increasingly use verified accounts to cheat people.

While developers and concerned users have taken measures to notify rookies about these scams, users should understand that no matter how many restrictions and rules are put in place.

It’s always an uphill battle, the spambots find a loophole sooner or later and the service providers keep working to make their product as secure as possible. It’s best for users to pay attention and perform appropriate research before planning to part with your money.

Spambots are computer programs that are used to spread misinformation, steal data, create accounts and spread spam messages and posts. The most common form of spam is often on e-mails, forums, Twitter and other social media outlets.

In fact, the bots have gotten so good that Elon Musk sent out a tweet praising the skills of the people behind the spambots. He did misspell Ethereum though.

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