• Fri. Aug 18th, 2023

Scammers Clone Crypto on Threads

Aug 11, 2023
Scammers Clone Crypto on Threads
Marcel Bich

The emergence of fraudulent Twitter page copies on Threads, a social network positioned as a Twitter analog, has caught the attention of the cryptocurrency community. Participants have raised concerns about this issue on Twitter, noting the deceptive nature of these fake accounts.

Crypto Clones: Threads Unveils Copycat Controversy

Several notable figures in the cryptocurrency world, including NFT-influencer @LeonidasNFT and scandalous NFT investor Jeffrey Huang, have discovered replicas of their Twitter pages on Threads. Wombex Finance, a cryptocurrency project, has also reported the appearance of fraudulent lookalikes on the new social network. Reddit forums have been abuzz with reports of rampant cryptocurrency scams on Threads.

However, it’s important to note that Threads is not the only platform plagued by scammers. In a previous report, we highlighted how attackers actively promote fraudulent schemes on YouTube, while Twitter itself has long been a favored platform for crypto imposters.

Developed as an alternative to Twitter by Meta, the Threads social network has gained rapid popularity. Within a day, over 30 million users registered on the site, and in just two days, the user base grew to 70 million people. The soaring popularity of Threads has attracted the attention of Twitter’s legal team. Lawyers representing social network Ilon Musk have sent a letter to Mark Zuckerberg, accusing his company of “deliberate and unlawful misappropriation of trade secrets,” as reported by Semafor.

Anton Gorelkin, deputy chairman of the Duma Committee on Information Policy, has declared that Mark Zuckerberg’s social network is “de facto technically blocked in the Russian Federation.” The restriction is due to Threads sharing a user base with another Meta social network that is blocked by Russian authorities. Although Roskomnadzor has not issued separate orders to block Threads, the social network remains inaccessible in the country. In the European Union, Threads is also currently unavailable due to legal complications, not direct blocking.