Threads, which was just released by Meta and is thought to be a strong competitor to Elon Musk’s Twitter, is reportedly being taken over by several fake crypto accounts.
Some of the most well-known crypto users on Twitter have started to tell other crypto users on Threads about the rise of fake crypto accounts on the site.
Threads is said to be a better option than Twitter, where people are getting more and more uncomfortable.
Since its launch on July 6, more than 98 million people have signed up for the website. Even though the new social media is still a long way from Twitter’s 450 million users, more people are likely to sign up in the coming days.
Read also: All you need to know about Meta’s Threads app
But in the last few days, the rise of fake crypto accounts on the site has become a growing worry for crypto fans.
On July 8, Wombex Finance posted a picture of a Threads account that was pretending to be theirs. They warned users and other crypto fans that it could be a scammer’s trap because the project isn’t registered on the platform yet.
Leonidas, who has a lot of power in the non fungible token (NFT) world, also tweeted a warning that was very similar to Wombex’s. Leonidas told its 93,000 followers that scammers are using the new site to pretend to be big NFT accounts. Leonidas said that it has finally made an account on Threads to stop these scammers from stealing money.
Jeffrey Huang’s Twitter name is Machi Big Brother. On July 6, he tweeted a link to his Threads profile. One user pointed out that there was already an account on the site that used his Twitter name.
Scammers in the crypto business have made the crisis worse. Beosin, a Web3 security company, says that phishing scams stole $108 million in crypto in the first half of this year. It looks like the fight against these crooks will go on. People who buy coins or support them can avoid these scams on Twitter and in threads by being careful.
Twitter threatens legal action against Meta over its new App, Threads
How to tell if a Threads account is fake
It can be hard to spot fake crypto accounts on Threads. But if you’ve been using crypto for a long time and know how scammers work on social media sites, they shouldn’t be hard to spot. For people who don’t know much about crypto, here are some ways to spot fake accounts on Thread:
Do a profile search: To find a fake crypto account on Threads, look for the subject on the platform. As usual, a number of accounts with user names that sound like the subject’s name will show up. Threads just started, so the profile with the most activity might not be the real one. The first scammer to make a profile there might have gotten a lot of fans. So instead, you go to the subject’s Twitter page and compare it to the most busy profile with a similar name. The first thing to look for is a possible mention of the person’s newly created Twitter profile. If you can’t find any references, you should stay away from the accounts until they make a public announcement on their Twitter page.
Verify to See if There Are Spam Links or Fake Giveaways: If you receive frequent links from them, they are almost certainly fake accounts. What scammers do with fake accounts is try to get people to click on fraudulent links that can get their digital assets stolen easily. The other way is fake giveaway schemes which lure users to get entrapped in their malicious acts.