Tech
Binance co-founder calls on Elon Musk to curb the spread of cryptocurrency-related fake news on X
Cryptocurrency scammers appear to be on the rise now that the digital asset sector is experiencing growth in different regions of the world. Yi He, the co-founder of Binance over the weekend called on Elon Musk to take steps to ensure the spread of cryptocurrency-related fake news about X is proactively handled. The Binance executive recently found herself involved in an identity theft scam, in which her identity was used to promote a fake crypto token on X.
In a post published on X, he claimed that he has not issued any crypto token called MemeCoins. He has clearly instructed his followers and members of the Binance crypto circle not to take the bait and invest in this scam token.
Calling to Moss, the boss of X, wrote: “Many people were fooled by this hacker link and lost a significant amount of money today. Is there a way to fix this, Elon Musk?” The screenshots shared by He also showed his encryption handle and his name being impersonated.
Musk, who is otherwise very active Xso far it has not published any response to He’s question.
I have not issued any new MEMEcoins. By clicking on the link, your money will be stolen. Many people have been fooled by this hacker link and have lost a significant amount of money today. Is there a way to address this problem?
@Elon Musk pic.twitter.com/fCiweFweBa— Yi He (@heyibinance) June 14, 2024
In March this year, Scam Sniffer said in its crypto phishing report that around 57,000 victims lost around $47 million (around Rs. 392 million) to crypto phishing scams, with most of the scams facilitated from scammers working on X.
:rotating_light: [1/6] ScamSniffer February Phishing Report
In February, approximately 57,000 victims lost approximately $47 million to cryptophishing scams.
Compared to January, the number of victims who lost more than $1 million decreased by 75%. pic.twitter.com/UgZk0K91lH— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) March 10, 2024
In February of this year, MicroStrategy Account X was created violated, through which the airdrop of a scam MSTR crypto token was promoted. Since MicroStrategy is a pro-Bitcoin business intelligence firm, many people believed that the token airdrop was legitimate and ended up engaging with malicious links. At the time, market analysts such as Scam Sniffer and ZachXBT had estimated that this scam had managed to steal approximately over $440,000 (approximately Rs. 3.6 crore).
The X account of Blockchain capital it was also hacked last year to promote another BCAP scam token. In fact, she herself had raised the alarm about the growing number of crypto scams mixing on X in January this year.
When Musk acquired X from its founder Jack Dorsey in April 2022, he said that ridding the social networking platform of bots and scammers manipulating the cryptocurrency market was among his top priorities. Despite the changes introduced to the platform; Cryptocurrency scammers continue to misuse the platform to connect with potential victims.
Affiliate links may be automatically generated – see our Ethics statement for details.
Fuente