Cryptocurrency Spams Grow By Over 4000% In The Last Few Years
30 Mai 2022 - 10:00AM
NEWSBTC
Crypto spam activities have increased by 3,894% within the past
months. LunarCrush, a cryptocurrency intelligence platform, gave
this report in a recent publication. The report showed considerable
growth in the crypto industry with its expansion on social media.
It revealed that scam bots and posts within social media networks
increased to their All-Time-High (ATH). This report arrived amid
the world’s leading billionaire, Elon Musk’s comment on the issue
of Twitter being flooded with spambots. Twitter To Become The
Debate For Spam Accounts Twitter’s would-be owner has severally
emphasized the growing presence and influence of cryptocurrency
scammers, spambots, and links to phishing websites on the social
media network. While others ignored his comments, LunarCrush, a
cryptocurrency metrics, and data analysis firm, curated a report
concerning the issue. Related Reading | Bearish Indicator: Is
Bitcoin Headed For Its Ninth Red Weekly Close? From the review, we
can see that the number of spam crypto entities within Twitter
spiraled by over 3,894% from 2019 till now. In addition to that,
the report also showed that cryptocurrency spam recorded the
highest increasing metric in contrast to every other social metric.
Hub For Cryptocurrency Spams? Twitter is a leading social media
platform worldwide, and several sectors depend on it for
announcements, communications, etc. The crypto sector is one sector
that essentially uses Twitter to facilitate its practices. There’s
even a sub-niche for cryptocurrency, blockchains, NFTs, and others
on Twitter. Therefore, it’s effortless for individuals to open any
well-known Crypto Twitter niche and learn anything they need on
cryptocurrency. Besides that, the report from LunarCrush showed
that Twitter isn’t left out of the rising crypto spams on social
media. It revealed that the volume of spam within the platform
increased by over 1,374% within the past two years. Thus, beginners
are the most prone to these spambots and their efforts to loot
individuals. Related Reading | Ethereum Slips, What Are The
Next Vital Trading Levels For The Coin? Also, another shocking news
is that the spam accounts aren’t operated by spambots but by
individuals. Thus, from the report, we could see that many people
handle one single account or one person handles multiple accounts.
Therefore, making it rather difficult for the built-in bot to
detect spam within Twitter and penalize them. LunarCrush CEO
Informed Matti Greenspan About The Issue In his cryptocurrency
newsletter, the CEO of LunarCrush, Joe Vezanni, explained to Matti
Greenspan, founder of Quantum Economics, on the matter. In the
newsletter, he explained that a Web2 website like Twitter receives
a direct incentive for acting ignorant to the current fake
accounts. Vezanni buttressed that this boosts the platform’s value.
However, Web 3.0 platforms like Orbis are distinguished from the
crowd because they make all efforts for genuine accounts. Featured
image from Pexels, chart from TradingView.com
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