The privacy-centric cryptocurrency Verge does not have a verified (“blue badge”) Twitter account. Accordingly, scammers are taking advantage of the dynamic, impersonating the actual Verge team with a blue-badged account in order to dupe victims. Twitter has come under fire recently for not doing enough to stop scammers that have been impersonating influencers to swindle cryptocurrency.
Twitter Incompetent to Stop Scammers
Recently, a verified Twitter account masquerading as Verge’s official account had been surfacing on the platform. TNW reports the imposter was originally located here, but the account information has apparently since been changed. Retweets from the official Verge account still fill the page, however.
The major problem with the Twitter account verification model is that an account can only lose its blue badge if an account changes its username. The twitter handle itself cannot be changed but the username can be — consequently, scammers change their names and pictures to famous personalities constantly and still remain verified. The only differentiation are the actual Twitter handles, which many users can miss during a casual glance.
Likewise, scammers usually subtweet the tweet of influencers to be identified as genuine, thereafter targeting the massive followings of influencers with scam offers.
Earlier this year, a Twitter spokesperson told BuzzFeedNews:
“We’re aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner”
One Helluva Year for Verge So Far
Verge has been undergoing a wild, controversial ride in 2018. Verge’s collaboration with online pornography giant PornHub is the latest news on everyone’s minds. Before that, though, Verge’s twitter account was hacked just weeks ago, with the scammers responsible asking Verge followers to donate XVG.
Soon later, the team did manage to regain control over its account. Following the social media hack, the privacy-focused cryptocurrency suffered a 51 percent attack on its blockchain, whereby the attacker was able to rapidly mine XVG blocks leading to a theft of hundreds of thousands of XVG coins.
The last thing Verge — or any crypto project — needs right now is Twitter scammers causing havoc, then. Hopefully Twitter gets a handle on the situation soon.
Should Twitter come up with a full-proof system to stop such manipulation on its platform? Share your views in the comments section.
Images CNN, Medium