“X” users are struggling as Crypto Scams in Ads,officials have no clear respons

[Cryptocrit]

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvD_ye22SrvkYZYTRQRu3DqSCfSvBFhY421Vh4aYaeyODs-gIiKw-vNG8iSjE8KdzGNpe_8y2ORja3r_WtjzyPFHJSjPMoS3hY10VktZOO1y2328LNoEWCleQyULdHX4lWPO841MiL67GdbCLXUQJxll4Bma5LQhuLB8C2r9nxYrq09guAhfMRFKV-cGdG/w638-h640/Screenshot_18.jpg

Crypto scammers are using X ads to trick others into visiting websites that can steal their cryptocurrency or trick them with fake giveaways.

X shows ads based on what users are interested in, like many other platforms. Even though Elon Musk mentioned that YouTube has a lot of scam ads, it turns out that X has a problem too. More and more often, X is displaying ads that try to scam people into cryptocurrency-related frauds.

These scams might include links to Telegram channels that try to manipulate the value of a cryptocurrency (pump and dump), fake pages that try to steal personal information (phishing), or links to websites that can steal all the money from a connected wallet (crypto drainers).

https://www.cryptocrit.xyz/2024/01/x-users-are-struggling-as-crypto-scams.html

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[Coyster]

It is not new, neither is it peculiar to only X, so many social media platforms also display scam ads and you can even download scam/phishing applications in Google playstore or Apple apps store, thus it is hightime people stop depending on these platforms to filter scam ads and apps for them and start doing their own due diligence. There are basic rules of thumb like: download only from the official website, do not input your seed phrase in just any website, always try to verify your crypto downloads, etc.

Having said that, there are always going to be victims because people lack the basic knowledge about cryptocurrency security, thus the only way to minimize the damage is by posting some of the modus operandi of these scammers and also advise people to stop clicking on random links and to use offline wallets to keep their coins.

[kentrolla]

This can never be stopped and not limited to Twitter (X) but it's across the social media and the only way we could stop this is be spreading awareness as much as possible and this cannot be done without the support of government and platform owners but still people will continue falling victims because this whole scamming domain has taken things to different level and they have so many innovative plans to trap users without making them realise. It's better if users avoid anything that's free and I would say this forum would be best place to take opinion before indulging into such campaigns but they create urgency which puts users in FOMO and fall for it. We need to be extra cautious that's what I would say.

[jrrsparkles]

Some of them can be stopped but it is impossible to eradicate them all, even though if X platforms ban any kind of ads related to cryptocurrency still users can find loopholes and come up with different strategies to get the same things done. And also some blame should go on the people too who become victims to such schemes just because of their greed alone.

[Sayeds56]

It is not new, neither is it peculiar to only X, so many social media platforms also display scam ads and you can even download scam/phishing applications in Google playstore or Apple apps store, thus it is hightime people stop depending on these platforms to filter scam ads and apps for them and start doing their own due diligence. There are basic rules of thumb like: download only from the official website, do not input your seed phrase in just any website, always try to verify your crypto downloads, etc.

Having said that, there are always going to be victims because people lack the basic knowledge about cryptocurrency security, thus the only way to minimize the damage is by posting some of the modus operandi of these scammers and also advise people to stop clicking on random links and to use offline wallets to keep their coins.

You are correct, it is not a new phenomenon, and it is not exclusive to X(twitter platform, multiple social media platforms also exhibit scam advertisements. I think user should not solely rely on platforms to filter out such ads, in stead they should conduct their own through investigation to steer clear of becoming victims of such fraudulent advertisements/links.

[electronicash]

it's what will happen with so much freedom in the platform but i think Elon likes it this way to prove his point about the freedom of speech. it's just that those users who invest in those scams will eventually learn which to invest and not.

this i think is still a way to introduce people to crypto. it forces the best in people to learn how to search the research properly where users themselves will utilize the google search to dig and find out the truth about crypto investments they are about to invest into.

[tyz]

Crypto scammers are using X ads to trick others into visiting websites that can steal their cryptocurrency or trick them with fake giveaways.

Elon Musk has laid off over 70% of the workforce since the takeover of Twitter. No wonder the quality of the ad booking audit has declined. However, this is not just a problem for X. Google, Bing and Facebook also more and more allow crypto advertising that is misleading or indicates a scam. This is a general problem!

[albon]

It is assumed that everyone has gained knowledge now that the X platform or any of the popular social media platforms without censorship and anyone cannot place his absolute trust in the ads that are promoted by scammers whether these ads are for phishing sites, Telegram groups, Discord channels, or any links to purchase a currency for a project on DEX, Or download any applications or programs directly through these advertisements. As soon as anyone makes hasty decisions and does not do sufficient research, he will, at a very large percentage, fall into fraud and lose his assets, or he will lose his privacy or his computer will be hacked and his important information stolen, It is worth noting that even advertisements in search engines such as Google or in mobile applications cannot be blindly trusted, as many incidents have spread of people being subjected to fraud through them. Therefore, everyone should exercise caution and refrain from trusting every advertisement they come across.

[Wexnident]

It's a problem for the entire internet really. An ad can't really be called a scam until someone has already been scammed, and to tally that, they have to submit proof and whatnot. Only then will social media companies start removing related ads. Sadly, it's a lot of effort imo (and that it's relatively unknown to most) for people to submit scam accusations especially if they can't even get their money back. Not to mention scammers can easily buy up another few slots of ads under a different name.

But, well, I doubt Elon would do much. He loves the words "freedom of speech" after all.

[oktana]

Some of them can be stopped but it is impossible to eradicate them all, even though if X platforms ban any kind of ads related to cryptocurrency still users can find loopholes and come up with different strategies to get the same things done. And also some blame should go on the people too who become victims to such schemes just because of their greed alone.

X platform will never ban crypto related ads. Not that I read it somewhere but I am this confident because of how Elon took up the platform, and he is even looking to promote crypto (from what I see). I think that they may put restrictions on what kind of crypto ads can be shown. Maybe it hasn’t gotten that intense enough for them to make the move or maybe they are already planning and will execute it soon. Whatever the plan is, it can’t involve banning crypto related ads. 

[JeffBrad12]

this is not new, even youtube also infested with scammers, in think elon himself has realized this, thats why back then he kept saying that twitter is full of bots, also he wants to eliminate these bots, but we know that eliminating bots completely from a platform is almost impossible feat because there are too many of these bots created everyday.
tell me, how to distinguish a bot from a real person who make tweet frequently programmably? I guess my best bet would be whether they are tweeting the same thing over and over but even real people are also tweeting the same tweet over and over.
so its kinda difficult to distinguish, elon's ambition of getting rid all of these bots which are used for scamming also seemed to be failing. but I guess he still finds way to do something about it.

[Kelward]

People should understand that the social media is a public space where anybody or organizations can come and say anything whether true or lie, and the owners of these media sites don't really have a say in the content of stuff that is dumped in their sites. If the public can have this awearness then it'll be difficult to get scammed in the social media, because they'd be knowledgeable enough to understand that they need to carry out research before deciding to believe what they hear or click any link. I doubt that the users of X can sue Elon musk, for being scammed in his social media site, so people need to have these scam awearness and tell as many people as possible, to reduce the chances of scams, because they're not going to stop.

[jrrsparkles]

Some of them can be stopped but it is impossible to eradicate them all, even though if X platforms ban any kind of ads related to cryptocurrency still users can find loopholes and come up with different strategies to get the same things done. And also some blame should go on the people too who become victims to such schemes just because of their greed alone.

X platform will never ban crypto related ads. Not that I read it somewhere but I am this confident because of how Elon took up the platform, and he is even looking to promote crypto (from what I see). I think that they may put restrictions on what kind of crypto ads can be shown. Maybe it hasn’t gotten that intense enough for them to make the move or maybe they are already planning and will execute it soon. Whatever the plan is, it can’t involve banning crypto related ads. 

Elon himself expressed that he won't be involved with any crypto project and I assume it includes the promoting too.

He definitely manipulated the market and we all know what he is capable of when he simply made changes to his Bio and the BTC price skyrocketed then the DOGE show happened too and he did it all for his own benefits not for the care of cryptocurrencies in my understanding.

[batang_bitcoin]

Because there are some loop holes with their system and that's why scammers are taking advantage of it. In most platforms, scammers and ads are there looking for a prey. It's hard to think that all of them will be gone someday because it's not gonna happen. What people needs to know is to be aware of their tactics and how they're existing because without such knowledge, you're always the target and potential victim of these scammers.

[EarnOnVictor]

It is all for the money for companies and I don't think there is a law anywhere protecting the interest of anyone on the internet in this regard. That is why you see Google and any other platforms you can think of displaying and promoting dangerous ads anyhow and such that they might even know they are possibly going to scam people. They continue this unchecked and will continue to embolden them since it is a free world, but let's hope that the government can still look into this.

The fastest way this can happen is through protests since the government seems to be blind but it seems that people are still not looking towards that for now. But in my opinion, what should have been is that before allowing any ads on your platform, you must have understood the ads and the project involved in them and all that. There could be some verification put in place for ad placement to be possible on platforms to discourage the daylight scammed encouraged by popular websites and platforms.

But at the moment, we are the ones to protect ourselves. We should stop looking for hypes and HYIPs and be extremely careful in clicking the links we are not familiar with. When you see new projects, think twice as you do your own research before you get to conclude on what you will be doing further with them. No one will help you now, help yourself and stay informed, that is my candid advice.

[Mate2237]

I am happy that, I don't use X again, since they blocked my account, I left them and focus on my other social media accounts. X is full with scammers since people are using not to make money monthly. According to someone people are even boosting their accounts to receive many followers. And the reason why the scammers full X because the developers are not working hard to secure the site.

But one thing we have to know is that, X is a social media channel where good and bad mingle together. So anything can happen to the user so you to know what to do whenever your using it.

[oktana]

Some of them can be stopped but it is impossible to eradicate them all, even though if X platforms ban any kind of ads related to cryptocurrency still users can find loopholes and come up with different strategies to get the same things done. And also some blame should go on the people too who become victims to such schemes just because of their greed alone.

X platform will never ban crypto related ads. Not that I read it somewhere but I am this confident because of how Elon took up the platform, and he is even looking to promote crypto (from what I see). I think that they may put restrictions on what kind of crypto ads can be shown. Maybe it hasn’t gotten that intense enough for them to make the move or maybe they are already planning and will execute it soon. Whatever the plan is, it can’t involve banning crypto related ads. 

Elon himself expressed that he won't be involved with any crypto project and I assume it includes the promoting too.

He definitely manipulated the market and we all know what he is capable of when he simply made changes to his Bio and the BTC price skyrocketed then the DOGE show happened too and he did it all for his own benefits not for the care of cryptocurrencies in my understanding.

As for why he shilled Bitcoin and DOGE back then, I can’t say if it was for his own benefits, but I understand that it is possible for him to have a clean mind putting it up there even if he knows it’ll influence the market. However, just because he said he won’t be involved doesn’t mean he won’t be. Understand that he may be referring to being publicly involved. However, he has crypto and is into crypto so he can’t take an action like banning crypto ads because he knows he’ll not only lose customers but will hurt the crypto space as a whole.

[icalical]

TwitterX ads regulation is the worst, not only crypto scam, there is so many problematic ads. I have seen an ads that impersonating several big fashion brands that giving a discount, but when I click this ad sent me to a phising site required to give my data including my card. Clearly I wouldn't fall for it, I immediately close the window, but there are some people who are naive and might be lured.

[mich]

Yes and some of these crypto scam ads do look very real. I seen a ad for XRP and I was going to send some of my tokens to it.
But it is a good thing I did not because it was a scam. But it was with nice video and it did look so real. Just make sure you are careful. I do hope Elon Musk will fix this problem.

[Bureau]

I see a lot of giveaway advertising happening and most of them want to connect to your wallets. I clicked on one of the advertisements it went to a page and asked permission to access the wallet. The page mentioned that connecting the wallet ensures that the giveaway crypto credits are the correct one. If a newbie reads it, he or she would straight away give access to his wallet. Furthermore, the advertisement campaigns are being run by blue tick ID. That makes it more convincing for anyone new on the platform who doesn't know how Bluetick can be bought on X.com. YouTube still doesn't have a policy of selling its white tick.