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Scams involving cryptocurrency continue to exist on Twitter, Elon Musk isn’t happy

In reaction to a screenshot of a giveaway scam provided by Dogecoin co-founder Billy Markus, Tesla CEO Elon Musk once again lamented the proliferation of cryptocurrency spam on Twitter.

The billionaire has stated that the social media behemoth has been attempting to resolve the problem for quite some time.

For a long time, Musk has been battling bitcoin scammers. Back in 2018, before the Tesla CEO became a household name in the cryptocurrency world, he raised the issue of Ethereum spambots.

Paul Graham, a venture capitalist, has remarked on the matter, claiming that Twitter’s spam detection may be too complex.

So, Musk mocked scammers with a tweet about Dogecoin in October. Scammers frequently promise to quadruple the money entrusted to them, but the billionaire turned the tables on them by offering them a far less profitable bargain.

Musk, Bill Gates, Kim Kardashian, and other important figures are targets by Bitcoin scammers in July 2020, resulting in the largest Twitter attack to date.

According to information released by the Federal Trade Commission last year, bitcoin scammers posing as Musk made almost $2 million.

Twitter isn’t the only social media platform that has been plagued by bitcoin scammers. Musk impersonators can also be on social media platforms like Facebook and Instagram. Popular YouTube channels are also targets. Thereby, allowing for the creation of phony Bitcoin giveaway live feeds with footage of the billionaire.


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