Elon Musk Twitter Copycat Made It Past Platform's New Crypto Scam Measures

Elon Musk Twitter Copycat Made It Past Platform’s New Crypto Scam Measures

Recently, social media platform Twitter implemented measures to address the identity crisis on the platform that saw, among other fixes, fake profiles impersonating Tesla CEO Elon Musk automatically locked out. The measures have come up short as another crypto-swindler surfaced on August 23rd mimicking Musk and falsely claiming Tesla would recognize the top two cryptocurrencies, bitcoin and ether, to butter up potential victims. 

Also read: CoinMarketCap Partners with Vela to Integrate Crypto Price Data

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The Twitter Predation Continues

In recent weeks, business magnate Elon Musk has been one of the many notable influencers whose Twitter accounts have been mimicked by bots soliciting cryptocurrency. Twitter recently tried to flex against the problem by locking all fake accounts masquerading as the billionaire. 

Unfortunately for everyone involved, that fix proved inadequate on Thursday, August 23rd, as a seemingly verified Twitter handle entitled “Musk on Medium” temporarily made it around the automated blockade. The fraudster account began its ploy in one of Musk’s actual Twitter threads, falsely telling his followers that Tesla would imminently accept payments in cryptocurrencies.  

In reality, the company had made no such announcement.

Musk has previously tweeted on “Etherium scambots,” misspelling the cryptocurrency perhaps ironically. 

The copycat tweeted:

“As a part of reorganization we will be introducing Bitcoin and Ethereum as official payment methods. it is one of the steps in moving forward as a company.”

To make the foundation of the scam more realistic, the imitator account then tweeted about “taking Tesla private” — a reference to the media storm the real Musk caused just days ago in airing out the idea of shifting Tesla from being a public company:

“As many of you know by now, we will soon be making Tesla a private company. It is an important step towards stability and it would be impossible to move forward in a desirable pace without making such decisions.”

With the crypto-centric setup in place, the “Musk on Medium” account started tenuously soliciting users to send over cryptocurrency, specifically BTC and ETH. According to the thread in question, some users started falling prey to the scam before the malicious profile was reported en masse into digital oblivion.

For now, it remains unclear how the fraudster breached through Twitter’s new and automated impersonator measures.

A Problem Still Lacking a Proper Solution

Since the explosion of crypto interest in 2017, Twitter has been struggling to adequately deal with the boom of digital asset scammers masquerading as notable personalities such as Elon Musk to swindle money from naive users.

The social media giant has taken steps in the right direction, but with the problem still more or less rampant in the cryptocurrency space’s slice of Twitter, the current fixes have left much to be desired. Even Bitsonline has been impersonated as of late. 

Recently, Duo Security researchers found a huge Twitter botnet where more than 15,000 bots mimicking famous people and companies were spreading crypto giveaway scams. That’s a peek into the kind of scope the problem poses.

For now, in the absence of a definitive solution, it seems Twitter users will have to annoyingly sidestep account impersonations on the platform.

Can Twitter entirely clean the platform from these malicious crypto bots? Share your views in the comments section.

Images via Sky News, BBC

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