Twitter’s new verification process, which was intended to prevent scammers from impersonating legitimate organizations, has inadvertently created a new black Market. Verified accounts on Twitter used to have blue checkmarks, indicating that the account owner had undergone the verification process. However, the new process now assigns blue checkmarks to users with an X Premium subscription, while government officials and individuals acting as government representatives receive grey checkmarks, and business organizations receive gold checkmarks.
To maintain a gold checkmark, organizations must pay $1,000 a month. The idea behind this high cost was that it would deter scammers, as it would be trivial for legitimate organizations but expensive for most scammers. However, scammers have found ways to bypass this by setting up fake accounts with gold checkmarks and using them to promote fake airdrops and investments. Many of these accounts are sold on Telegram channels before being launched on crypto Twitter, and they can make significant profits before being taken down.
Cybersecurity researcher ZachXBT brought attention to this issue by showcasing 12 accounts he had come across in just two days that were impersonating legitimate businesses using gold checkmarks. These accounts often promote fake token airdrops, which can lead to financial losses for users and the collection of personal information. While some Twitter users offered to help get these accounts banned, it is clear that this is only a temporary solution.
To maintain its position as the leading platform for businesses to connect with customers, Twitter’s moderation team must take urgent steps to restore confidence in its verification process. This may involve implementing stricter measures to prevent scammers from obtaining gold checkmarks, improving the reporting and verification process, and taking more efficient action against fake accounts.
In conclusion, Twitter’s new verification process has inadvertently created a black market for verified accounts. Scammers are exploiting the system by purchasing gold checkmarks and impersonating legitimate organizations to promote fake airdrops and investments. The platform’s moderation team must address this issue promptly to restore trust in the verification process and protect users from financial losses and privacy breaches..
#Crypto #Scammers #Gold #Verfication #Twitter #Control #ZachXBT
To maintain a gold checkmark, organizations must pay $1,000 a month. The idea behind this high cost was that it would deter scammers, as it would be trivial for legitimate organizations but expensive for most scammers. However, scammers have found ways to bypass this by setting up fake accounts with gold checkmarks and using them to promote fake airdrops and investments. Many of these accounts are sold on Telegram channels before being launched on crypto Twitter, and they can make significant profits before being taken down.
Cybersecurity researcher ZachXBT brought attention to this issue by showcasing 12 accounts he had come across in just two days that were impersonating legitimate businesses using gold checkmarks. These accounts often promote fake token airdrops, which can lead to financial losses for users and the collection of personal information. While some Twitter users offered to help get these accounts banned, it is clear that this is only a temporary solution.
To maintain its position as the leading platform for businesses to connect with customers, Twitter’s moderation team must take urgent steps to restore confidence in its verification process. This may involve implementing stricter measures to prevent scammers from obtaining gold checkmarks, improving the reporting and verification process, and taking more efficient action against fake accounts.
In conclusion, Twitter’s new verification process has inadvertently created a black market for verified accounts. Scammers are exploiting the system by purchasing gold checkmarks and impersonating legitimate organizations to promote fake airdrops and investments. The platform’s moderation team must address this issue promptly to restore trust in the verification process and protect users from financial losses and privacy breaches..
#Crypto #Scammers #Gold #Verfication #Twitter #Control #ZachXBT
