In the context of cryptocurrency scams being rampant on asked whether the billionaire intended to solve the problem once and for all.
Yi He – co-founder of Binance
He’s concerns were raised regarding a purported impersonation scam on platform X. She posted images showing the account blatant imitation of both X’s name (@heyibinance) and her own name.
According to operator Binance, one particular impersonation scam instructed users to click on a link that supposedly granted access to memecoins supported by Binance. Yi He was quick to point out that it was all a scam and users should not click on those links to avoid losing money.
I have not issued any new MEMEcoins. Clicking on the link will result in your money being stolen. Many people were tricked by this hacker link and lost a significant amount of money today. Is there any way to address this issue?
@elonmusk pic.twitter.com/fCiweFweBa— Yi He (@heyibinance) June 14, 2024
“I have not released any new Memecoins. Clicking on the link will only cost you money. Many people have been tricked by this hacker link and lost a large amount of money today. Is there any way to solve this problem?”
Cryptocurrency scams on X have skyrocketed to the point where, according to analysts, scammers on the platform are responsible for a large portion of all scams in the crypto space.
Anti-fraud company web3 Scam Sniffer reports that nearly $50 million is lost each month due to account impersonation on X.com as the main cause of this problem.
These problems existed long before Elon Musk took the helm of Twitter and changed its name to X. However, confusion still exists about the new boss’s controversial paid verification service – where it is clear that anyone with a smartphone can sign up and receive verification – possibly a contributing factor to the public continuing to fall for impersonation scams on the platform.
A review of Musk’s statements surrounding the Twitter takeover shows that he has multiple times repeat that he intends to tackle “bot” and “spam” issues but it is unclear whether his intentions include cryptocurrency scams.
Itadori
According to Cointelegraph
