Binance Co-Founder CZ Calls on Musk to Ban Bots as X Stocks Rise

Binance co-founder Changpeng Zhao (CZ) has urged Elon Musk to ban automated bots from the X social media platform. These bots, which are automated accounts designed to spam the site and amplify content or coordinate attacks, have been a persistent problem on the platform, particularly within the cryptocurrency community. CZ's call to action comes as a response to the ongoing issue of bots spamming the platform with artificial posts, impersonation accounts, and phishing links, which have been a significant problem for users.

In a March 9 X post, CZ suggested that while AI-generated content might be acceptable, API posting should be disabled to prevent bots from posting automatically. He differentiated between automated social media bots and AI agents, noting that the latter can be helpful in real-world applications such as booking hotels or writing code without the need for social interaction. However, automated bots are a well-documented problem on X, spamming the site with scam messages advertising fake tokens, phishing links to malicious sites, and pump-and-dump schemes.

The crypto community has been calling on Musk to address the bot problem since he acquired the platform in 2022. Despite several proposed solutions, including asking users to register a credit card to incur a small fee for new account creation, little has been done to curb the issue. These bots often impersonate crypto influencers and industry leaders to peddle fake tokens or redirect users to malicious sites through phishing links designed to steal funds. AI-powered chatbots have also been used to supercharge romance scams, where threat actors build trust with their targets over time before requesting funds through feigning financial problems or pitching fake investment schemes.

A 2023 study found that bots were responsible for manipulating altcoin prices by using coordinated posts from multiple bots to artificially pump prices. This highlights the broader issue of bot activity on social media platforms and the need for more effective regulation. As the use of social media continues to grow, so does the need for measures to protect users from malicious activities. By taking a stand against bots, Musk could set a precedent for other platforms to follow, leading to a safer and more reliable online environment for all users.

CZ's request underscores the need for stricter measures to ensure the integrity and safety of the platform. By banning bots, Musk could significantly improve the user experience and restore trust in