Meta’s recently launched microblogging app, Threads, has already witnessed a surge in sign-ups, surpassing 98 million users within days. However, concerns have been raised as scammers quickly capitalized on the platform, impersonating prominent Crypto Twitter users.
Multiple reports have surfaced regarding fake accounts on Threads, with scammers mimicking well-known individuals or projects. Wombex Finance, a decentralized finance platform, raised the alarm on July 8, sharing an image of an imposter account claiming affiliation with their project. The platform warned users about potential scams, emphasizing that they are not present on Threads.
In a similar incident, popular nonfungible token (NFT) influencer Leonidas alerted their substantial following of over 93,000 users to the presence of impersonators on Threads. Leonidas noted that both they and other “large NFT accounts” were being targeted by scammers on the platform.
As a proactive measure, Leonidas created an official account on Threads to combat the impersonation attempts.
Even Twitter personalities known in the crypto community fell victim to impersonation on Threads. Jeffrey Huang, commonly known as Machi Big Brother on Twitter, shared his Threads profile on July 6, only to have users highlight the existence of an imposter account mimicking his online persona.
While these imposter accounts have not shared any scam or phishing links thus far, they have been actively posting crypto-related content. This trend highlights the persistent issue of phishing scams on Twitter, where hackers gain unauthorized access to high-profile accounts and use them to promote malicious links.
Typically, these malicious links attempt to deceive unsuspecting individuals into divulging their cryptocurrency exchange login credentials, crypto wallet seed phrases, or connecting their wallets to crypto-draining smart contracts.
According to a report by Web3 security firm Beosin, such phishing scams resulted in the theft of approximately $108 million worth of cryptocurrencies in the first half of this year.
As Meta’s Threads app gains popularity, it is crucial for users to exercise caution and verify the authenticity of accounts they encounter. Remaining vigilant and adopting security measures can help protect individuals from falling victim to crypto-related scams and phishing attempts.