Crypto Scammers Exploit Xs Lax Security Measures

Crypto scammers are increasingly impersonating individuals on X, exploiting the platform's lax security measures to deceive users. The author of this article, Connor Sephton, recently discovered that someone had created a fake profile impersonating him, complete with a blue checkmark, to lure crypto companies into paying for coverage. The scammer's bio contained several inaccuracies, including false employment information and reposts of content from CoinMarketCap, a platform where Sephton used to work. The impersonator also posted pictures of a dog that Sephton does not own, further raising suspicions.

Roman Wiligut, the chief marketing officer at dTelecom, shared his experience with a similar scam. He received a professional-looking offer from an account impersonating Sephton, but grew suspicious when the conversation quickly turned to payment. Wiligut contacted the real Sephton, who confirmed that the account was fake. This incident highlights the importance of vigilance in the rapidly evolving industries of AI and Web3, where scammers are becoming increasingly sophisticated.

The consequences of falling for such scams can be severe. A dog groomer recently shared her experience of being invited to a podcast, only to be asked to grant access to her Meta Business Suite. This could have allowed the scammers to take over her social media accounts and remove access. In the crypto space, a PR professional's client was targeted by scammers posing as crypto journalists. The scammers asked to take control of the client's screen on Teams, raising suspicions and leading the client to shut down the call before any funds were hacked.

Sephton has reported the fake profile to X multiple times, but six weeks later, it remains active. He criticized X for not doing enough to clamp down on scammers and highlighted the disastrous decision to open blue checkmarks to anyone who pays a small fee. This is not the first time Sephton has been impersonated; a few years ago, another scammer mimicked him on Instagram, leading to awkward situations with colleagues who thought they had fallen out with him.

Beyond the scammy adverts, rampant misinformation, and AI slop, impersonators are yet another reason why X has become a cesspit. Users are advised to verify the authenticity of profiles before engaging in conversations or transactions. The lack of action from X against these scammers raises concerns about the platform's commitment to user safety and security.