Cryptocurrency Scams On Twitter Tackled By Two Recently Rolled Out Apps

In order to address cryptocurrency scams on Twitter, two tools have been launched this month. These tools, the MetaCert Protocol Cryptocurrency and Scam Clerk, prevent scammers that deceive Twitter users by requesting cryptocurrency payments.

By using the tools is possible to detect fake accounts on Twitter and verify whether the published tweets come from the person being followed or from a forger seeking to defraud followers.

According to MetaCert CEO Paul Wash, MetaCert Protocol is an extension for Chrome, Firefox, and Opera that has been updated to be useful in the world of cryptocurrencies to identify cryptocurrency scams on Twitter. Currently, this app is in its beta version.

With a similar goal in mind, Scam Clerk does a kind of virus scan on the Twitter accounts, generating a dashboard pointing out the imitators that have been blocked. The app also lists all the scam accounts identified on the network. Through its bot, the application also scans the lists of friends and followers, providing additional data and statistics.

Hacking account to deploy cryptocurrency scams on Twitter

Hacking Twitter accounts for crypto scams is a trend that increased over the last few years as the use of cryptocurrency has become more popular. Despite being warned, many people still fall into the traps of cybercriminals.

After hacking into the accounts of people linked to the world of cryptocurrencies, cybercriminals often make promotions and offers in their name, asking for a deposit, or for crypto payments for entering false drawings or lotteries.

Usually, the cybercriminals ask Bitcoin (BTC) or Ethereum (ETH).

Twitter has been a breeding ground for scams despite the blue check mark that the network places to differentiate verified accounts. In spite of this, last February the TRON Foundation Twitter account was imitated entirely, with all profile pics, biography, and location. Faced with this situation, some users have expressed their complaints to the Twitter platform, demanding greater security measures.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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