Cryptocurrency is associated with lots of occurrences; some are negative while others are positive. Although there are quite a lot of negative occurrences that cryptocurrency is known for, some of the most popular are the crypto scams which take place regularly on Twitter. These scams are known to come in very simple ways. That notwithstanding, a lot of people still fall victim to them. These activities that are carried out by cryptocurrency scammers basically involve the process of copying the account of any popular cryptocurrency influencer and replying to tweets in the name of this cryptocurrency influencer. More often than not, these scammers ask for a small amount of cryptocurrency in exchange for a bigger amount of cryptocurrency at some later point.
Although these methods that have been adopted by crypto scammers in fooling unsuspecting victims do not seem very brilliant, there are still lots of people that get defrauded every now and then.
These many cryptocurrency scams have been on for a while; in spite of this, it appears nothing has been done about it by Twitter. This has, therefore, spurred programmers to come up with apps that can be used to put a check to this problem. Most popular among these apps are Scam Clerk and Metacert Protocol.
Let’s find out what these apps are and how they function.
Scam Clerk is an app that can be likened to a virus scan specifically built for Twitter. This app has a dashboard which gives an account of how many fake Twitter accounts it identifies and blocks. In addition to identifying and blocking impostor Twitter accounts, the Scam Clerk app keeps a list of all the Twitter accounts that have been used by cryptocurrency scammers.
This app is basically an anti-fraud app and is one of the apps that are rapidly gaining recognition in the blockchain sector. Basically, this app functions by warning individuals that follow Twitter accounts of prominent people. It warns them when they get a reply from a different Twitter account and not the account that they assume is replying to their tweets. After effectively warning twitter users of the presence of a fake account, this app then goes ahead to block the fraudulent account and prevent cryptocurrency scammers from gaining access to someone’s account.
In addition to making Twitter users aware of the presence of impostor accounts, the Metacert Protocol also helps cryptocurrency enthusiasts identify websites that are used in phishing. When a green shield sign is spotted in the toolbar, it indicates the presence of a phishing website.
It is Twitter’s role to Clamp down on Cryptocurrency Scammers
With the aid of Scam Clerk and the Metacert protocol, issues of crypto scams on Twitter are gradually becoming a thing of the past. Although these apps have done an excellent job in watering down the degree of cryptocurrency related scams on Twitter, the jobs that are presently being carried out by these apps should be done by Twitter and not third party programmers.