Crypto Twitter scams go up, expert says

Posted 16 August, 2019

Well-known cybersecurity specialist Harry Denley stated that the number of crypto scams on Twitter has increased by 95% compared to last year. Fraudsters use a popular platform not only to publish various untruthful materials but also to advertise their own projects. 

"I discovered two of the most prolific scammers to be @AgamYogi, an apparent Industrial Engineer from Jakarta, Indonesia, and @megandaisy98, a woman whose last normal tweet was in 2018. (It was laughing at a relatable meme.) The rest, presumably, are bot accounts, which play on both sides: proliferating the scams and commenting on the scams, praising them as legitimate,"  said Denley.

Experts analyzed the activity of more than 300 users who call themselves cryptocurrency experts. Retweets from other accounts with advertisements or analytical articles about the state of the digital assets market often appear on their pages. About a third of them contained inflated data. The most popular fraudulent scheme in 2019, experts called a simple scam, which lures users with loud headlines.

According to experts, scam projects on Twitter were able to bring their organizers more than $140,000 only from the beginning of the year. The only possible way to counter this type of fraud is to transfer data about the accounts from which publications are made, to the administration of social networks.

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16 August, 2019 12:07

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