Crypto Twitter 'giveaway' scams return with a vengeance, but what's Jack Dorsey doing about it?

gepubliceerd op by Cryptoslate | gepubliceerd op

The latest wave of giveaway scams has returned to Twitter and new suckers are entering the cryptocurrency sphere.

Giveaway scams have existed for as long as crypto has been talked about on Twitter.

These scams promise instant returns to those who send coins to a specific address, preying on the stupid and greedy.

These scams saw their heyday during the bull market of late 2017.

At the time, scams were easy to perpetrate against the legions of profit-hungry crypto noobs.

During the bear market of 2018, these scams subsided as amateur investors were purged from the market as Bitcoin crashed from above $19,000 to sub $4,000.

These scams leverage large botnets, collections of bogus accounts, to raise the legitimacy of the scam by interacting with the giveaway tweets.

The volume of these scam tweets make notifications practically unusable for many accounts.

These scams have existed for a long time, and Twitter still isn't sophisticated enough to filter out the garbage.

Jack Dorsey, if you want to keep people tweeting, liking, and retweeting, then please do something and fix the crypto giveaway problem.

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