In the year 2020, the kind of crypto scam that are running on Twitter are also a buzz on Instagram. To make it simpler to understand, if an organistation has over a billion followers on Instagram, a lot of them display inauthentic behaviour.
Coinbase commented on the matter and said that they have not used any influencer in the recent past. “We don’t have an active influencer campaign right now.” Instagram isn’t tackled specifically in the company’s blog post about social media scams.
However, the recent times has seen that some efforts to curtail the present scenario has resulted into harming the entrepreneurs like influencer and educator Rachel Siegel. In the process, she was deplatformed from Instagram in July.
“I think that the policies for banning over impersonation should be looked at, there are dozens of fake accounts impersonating me that are kept up on Instagram,” Siegel said.
“I’m glad that they were able to reinstate my account, but I believe new preventative measures should be taken to protect their users from falling victim to scams and impersonators. Banning the original creator just makes the problem worse.”
One more influencer from Argentina was also suspended due to the same matter. Instagram spokesperson Raki Wane told CoinDesk “the accounts were taken down unintentionally, when the mistake was discovered we overturned.”
It can be said that during the Covid-19 situation fraudulent trends have taken over the market. But scam accounts on Instagram try to contact or follow on weekly basis, more than other platforms, especially since the COVID-19 crisis began.