Founder of Tesla, Elon Musk, has appeared on Twitter to make light of cryptocurrency giveaway scams, a persisting problem on the platform. A screenshot of a giveaway scam post by Dogecoin co-founder Billy Markus led Elon Musk to complain about the proliferation of cryptocurrency spams.
According to the billionaire, the social media giant Twitter has been struggling to fix the issue for a long time. A venture capitalist has commented on the matter, claiming that Twitter may not be able to detect spam effectively.
Musk has been battling cryptocurrency scammers for quite some time. Even before the CEO became a fixture within the cryptocurrency community, he raised concerns about Ethereum spambots back in 2018. Musk even mocked scammers with a Dogecoin tweet last October. Although scammers usually promise to double the money sent to them, the billionaire turned the tables on them by offering a far less lucrative deal.
Musk, Bill Gates, Kim Kardashian, and other celebrities were targets of Bitcoin scammers in July 2020, which ended up being the biggest Twitter hack ever. The Federal Trade Commission reported last year that cryptocurrency scammers impersonating Musk made roughly $2 million. The struggle with cryptocurrency scammers is not unique to Twitter. You can also find fake Musk accounts on Facebook and Instagram. In addition, popular YouTube channels are hacked to create Bitcoin giveaway live streams that feature footage with the billionaire.