A concerning trend on Twitter involves crypto scams exploiting the credibility of blue checkmarks or verified badges. These badges are used to signify authenticity, but scammers are abusing them.
ZachXBT, a crypto scam investigator, warns that fake accounts with these checkmarks are a major concern, especially for crypto enthusiasts. He suggests that Twitter should be more cautious when awarding these badges.
ZachXBT found about 12 fake accounts with blue checkmarks in only two days. Accounts like Pepe, Lido, ParaSwap, friend.tech, Synthetix, ApeCoin, and Starknet, all with gold verification badges, are part of scams, spreading false details.
Twitter is striving to enhance its system. One solution being considered is requesting users to verify their identity with an ID and a selfie. However, scammers are still devising tactics to deceive users despite the checkmarks.
ZachXBT said, “Verified orgs were intended to make it harder for scammers but it has just created a new black market for accounts with no way for us to report and take down these accounts easily.”
This issue isn’t limited to Twitter alone. Other major platforms like Google and Meta are also combating scams. Hence, while Twitter seeks to refine its verification process, other companies must also prioritize user safety.
Also Read: Scammers Exploit Meta’s Threads to Target Crypto Twitter Users
