Published on juni 15, 2024, 9:27 pm
Image source: Fox News
```json [ "TLDR: Yi He revealed losses from an impersonation scam targeting X.com users for non-existent Binance-backed memecoins. Cryptocurrency scams are prevalent on X.com, with reports stating $50 million monthly lost to scams like account impersonation. Despite Elon Musk's efforts to address bot and spam problems on Twitter (now X), it is uncertain if he has directly dealt with cryptocurrency scams. Musk has not publicly responded to He's concerns, showing the ongoing challenges of combating such scams in the crypto realm." ] ```
Yi He recently disclosed that a considerable sum of money was lost to an impersonation scam targeting users of X.com. The co-founder of Binance expressed her concern about the prevalence of cryptocurrency scams on the platform owned by Elon Musk. Yi He highlighted a specific impersonation scam that directed users to a link promising access to Binance-backed memecoins, which in reality did not exist and could lead to financial losses.
Reports indicate that cryptocurrency scams have become rampant on X.com, attributing a significant portion of all crypto scams to scammers operating on the platform. Analysis from Scam Sniffer, an anti-scam company present on X.com, revealed that nearly $50 million are lost monthly due to account impersonation, with X.com being a major facilitator of the issue.
Despite longstanding issues predating Elon Musk’s acquisition and rebranding of Twitter to X, questions persist regarding the effectiveness of Musk’s measures to curb such fraudulent activities. While Musk has reiterated his intention to tackle bot and spam issues following the platform takeover, it remains uncertain whether he directly addressed cryptocurrency scams.
At present, Elon Musk has not publicly responded to Yi He’s concerns raised on X.com. This incident underscores the ongoing challenges faced by platforms in combating impersonation scams within the cryptocurrency space and highlights the importance of robust security measures for users engaging with digital assets.
Original article posted by Fox News
