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Cryptoscam Becomes 95% More Popular on Twitter Since 2018: Research

The scammers use the popular microblogging and social networking service not only to post different scam materials but also to promote their projects, according to cybersecurity expert Harry Danly.

The specialist has analyzed more than 300 users, who claim to be cryptocurrency experts. Their twitter pages often contain retweets with adds and analytical articles covering the state of cryptomarket. Approximately a third of them overstated. According to the expert, the most popular fraud scheme in 2019 is a simple scam, attracting people with a flashy headline.

“You’ve probably seen these scams in the form of a tweet that says something like “We’re doing a giveaway, send us 0.5 ETH, and we’ll send you 5 ETH back.” These are always a lie. Airdrops and purse liquidations are not held with open access for everybody. Last year, there were half as many scam-related posts on twitter.”

According to Specialist’s data, Twitter scam projects have managed to bring more than $140 thousand to their organizers since the beginning of the year. The only possible way of combating the fraud of the kind is reporting the accounts to the administration of the network.

We recall that fake Libra selling offers appeared not only on Facebook but also on Instagram. More than ten Libra selling scam-accounts and groups were identified on the popular social networks.