Twitter working to fix cryptocurrency scam issue

Twitter working to fix cryptocurrency scam issue

Company CEO Jack Dorsey on Tuesday replied to a tweet that complained about the ongoing cryptocurrency scam on Twitter in which several users have been tricked and their digital assets stolen. On February 26, Dorsey had said that his company was aware of the issue and they "are fixing" the problem. As a preventive measure, Twitter had banned several accounts, including the support team for cryptocurrency exchange Kraken despite they tried to warn others about the scam. On Tuesday, the ban on Kraken's customer support handle was lifted. "Good news, guys! Strange that our initial appeal was also apparently handled by an automated system. Thank you all for your public outrage. Stay vigilant," it announced. According to the report, the scam began after an influencer posted a tweet regarding a fraudulent offer which was followed by similarly designed accounts. On seeing that the threads were posted by "verified accounts", people fell in the trap and lost digital assets.

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Twitter users are being conned out of tens of thousands of pounds a day by accounts impersonating celebrities, Sky News can reveal.

Users have complained about being duped on Twitter by fraudulent offers promising huge amount of Ether cryptocurrency in return of small initial deposits.

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As the issue of copying verified Twitter accounts to trick cryptocurrency users is becoming increasingly prevalent, the microblogging company has said that it is working to curb these copycat handles.

Company CEO Jack Dorsey on Tuesday replied to a tweet that complained about the ongoing cryptocurrency scam on Twitter in which several users have been tricked and their digital assets stolen.

“We are on it,” Dorsey replied to a user who questioned the CEO if the company was taking note of it, Coindesk.com reported.

On February 26, Dorsey had said that his company was aware of the…

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