Elon Musk got involved in multiple Bitcoin and cryptocurrency scams on the Twitter platform, where his name is repeatedly used to get people into investing money. The CEO now calls out Twitter for the rampant scams in social media, calling them "broken" for not being able to fix their systems and avoiding these kinds of circulation on the platform.
Elon Musk Fake Bitcoin Scam: Calls Out Twitter for Lack of Action
Elon Musk said that Twitter's system for detecting the said scams and spam accounts regarding the Bitcoin scam is "broken for some time" already. The heavy words from the CEO only show that the scams are too much for his involvement, mainly as his name and images are used to lure people into fraudulent acts.
There has been massive involvement of Musk's name regarding cryptocurrency scams, and that highly includes Bitcoin, despite denouncing its use due to the environmental problems it brings. Nevertheless, the cons are something that the social media platform of Twitter needs to work on, mainly as different people use it for their daily media consumption.
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Agreed. This has been broken for a long time.
— Elon Musk (@elonmusk) February 16, 2022
Doge Maker Billy Markus Sees the 'Elon Musk Scam' Trend
The Dogecoin creator Billy Markus spotted the Bitcoin crypto scam involving Musk's name to which he got added into Lists, a feature by Twitter. The former Doge creator called out Twitter Support to fix the issue and avoid allowing specific actions on the platform. It is fake and disrespectful to Elon Musk's reputation as an individual and a personality.
Bitcoin Scams: They Are Massive on Twitter
Bitcoin is massive in valuation, and owning one means that a person has more than $44,000, or the current value of the top cryptocurrency. Having said that, several malicious entities push a scam on social media that get people to pour in their Bitcoins to a specific account with promises that it will get doubled, courtesy of Elon Musk.
However, it is essential to note that there have been no such thing that the CEO promoted or campaigned for in social media, and those are fake. It is a scam that aims to steal Bitcoin from users, with the CEO's name used in vain.
Similarly, a Bitcoin hack by a teenager that focused on a phishing scam via Twitter also became one of the headlines in the past year. It involved the cryptocurrency and the platform, to which famous personalities such as Musk, Barack Obama, Wiz Khalifa, and President Joe Biden were victims.
Twitter needs to fix its systems to detect more scam that involves using the CEO's name, and it is to avoid more people from getting hacked or scammed on the social media platform. The power of the name is massive in these scams, with Elon Musk being in the center.
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Written by Isaiah Richard
