Misleading Comments on Social Media Platform X Leading to Crypto Phishing Scams, Says SlowMist
A recent analysis by blockchain security firm SlowMist reveals that the social media platform X is being plagued by misleading comments that link to crypto phishing scams. These scams make up about 80% of the comments on tweets from popular crypto projects.
SlowMist notes that these scammers are highly automated and can now purchase X accounts. There are numerous Telegram groups involved in selling these accounts, which vary in follower count, number of posts, and registration dates. The scammers also use dedicated websites to sell accounts with usernames resembling legitimate profiles.
In addition, the phishing groups use promotional tools to purchase followers and interactions to appear more legitimate. They employ automated bots to track the activities of well-known projects and comment first when those projects tweet.
To protect yourself, SlowMist recommends using anti-phishing plugins and enabling wallet signature verification. However, they emphasize that personal security awareness is the most important defense.
Hot Take: Protect Yourself from Crypto Phishing Scams on Social Media
Phishing scams on social media platforms like X are becoming increasingly prevalent, with scammers using misleading comments to trick users into authorizing malicious transactions. SlowMist’s analysis highlights the high level of automation employed by these scammers and the ease with which they can purchase fake accounts.
To safeguard your crypto assets, it is crucial to be cautious and double-check before clicking links or authorizing any transactions. Utilize anti-phishing plugins and enable wallet signature verification for added protection. Remember, personal security awareness is key in avoiding losses and deception in the cryptocurrency space.
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