Beware of ‘Scammers’ Impersonating Crypto Twitter Users on Threads as Sign-ups Approach 100 Million

Since the launch of Meta’s microblogging app, Threads, scammers have wasted no time in attempting to deceive users, as sign-ups surge past 98 million in just a few days. While this number is still a long way from Twitter’s estimated 450 million users, the rise in fake accounts on Threads has become a cause for concern.

Several prominent figures in Crypto Twitter have already raised the alarm about imposter accounts on the platform. Wombex Finance, a decentralized finance platform, tweeted an image on July 8, exposing a Threads account impersonating their project. The platform cautioned users that it could be a scammer since their project is not active on Threads.

NFT influencer Leonidas, with a substantial following of over 93,000 users, also issued a warning a day earlier. They revealed that both they and other “large NFT accounts” were being impersonated by “scammers” on Threads. To counteract this, Leonidas created an account on Threads to tackle the impersonators directly.

Another victim of impersonation was Jeffrey Huang, known as Machi Big Brother on Twitter. On July 6, Huang shared his Threads profile, only to have a user point out the existence of an imposter account mimicking his Twitter persona.

Fortunately, the mentioned Threads accounts have refrained from sharing scam or phishing links thus far, mostly sticking to crypto-related content. However, Twitter has long been a popular platform for crypto phishing scams. Hackers often gain access to the accounts of well-known individuals and businesses, using them to post malicious links.

These links typically aim to trick unsuspecting victims into sharing sensitive information, such as their crypto exchange login credentials, wallet seed phrases, or connecting their wallets to fraudulent smart contracts designed to drain their crypto assets.

According to a report by Web3 security firm Beosin, phishing scams targeting crypto enthusiasts have already resulted in the theft of $108 million in cryptocurrency during the first half of this year. As Threads’ user base continues to grow, users must remain vigilant and exercise caution to protect themselves from falling victim to such scams.

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