Tesla CEO Elon Musk stated that cryptocurrency fraud is still a problem on Twitter. In response to a screenshot of a giveaway scam posted by Dogecoin co-founder Billy Markus, Musk once again complained about the proliferation of spam messages about cryptocurrencies on Twitter.
Musk noted that the social media giant has been trying to solve the problem for a long time. Musk has also been grappling with cryptocurrency scammers for a while. Venture capitalist Paul Graham has argued that it can be very difficult for Twitter to detect spam.
Last October, Musk mocked scammers by tweeting about Dogecoin. Scammers often promise to double the initial amount of money sent to them, but the billionaire turned the scammers’ plight by offering them a much less lucrative deal.
In July 2020, Musk, Bill Gates, Kim Kardashian and other prominent personalities, to date They had become the target of Bitcoin scammers, the biggest Twitter hack. According to data released by the Federal Trade Commission last year, crypto scammers impersonating Musk managed to earn roughly $2 million.
Twitter isn’t the only social media company that continues to tackle cryptocurrency scammers. Musk impersonators can also be found on Facebook and Instagram.
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