Pump and dump cryptocurrency twitter
While scrolling through Twitter the other day, I suddenly came across a weird tweet by one of my favourite Hollywood actors, Reese Witherspoon. How GenZ of her, cool, right?! Screenshot of Reese Witherspoon's tweet on cryptocurrency. Wait, but the actor is definitely not Elon Musk or the likes of him to obsess over a virtual dog coin and the dystopian future of tomorrow.
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- XRP prices see ‘pump and dump’ as Ripple outlines legal defense strategy
- Soulja Boy Tells 'Em He Got Paid to Tweet
- Inside the group chats where people pump and dump cryptocurrency
- Elon Musk Tweets Pump Dogecoin But Not Bitcoin: Research
- Kim Kardashian sued in crypto 'pump and dump' case
- Mirrored Twitter Best CryptoCurrency Wallets in 2021
- John McAfee charged with securities fraud for ‘pump and dump’ cryptocurrency scheme
- The Anatomy of a Cryptocurrency Pump-and-Dump Scheme
XRP prices see ‘pump and dump’ as Ripple outlines legal defense strategy
For months now Twitter has been under fire for allowing cryptocurrency scams to flourish on its platform. Even though the company has admitted its aware of the problem, and has claimed to be working on a fix, nothing has changed and scams continue to proliferate, making us wonder if Twitter is even capable of stopping the cryptocurrency scams.
Surely there must be some programmatic checks that can be put in place to at least minimize the damage being done by bad actors on the Twitter platform. In the past many of these were of the pump and dump type , where a small alt-coin was promoted heavily by a group just to pump up the price of that coin so it could be sold by the scammers, or dumped, for a nice quick profit.
He was able to quickly regain control of the account, which has the handle officialmcafee, and tweeted this:. Urgent: My account was hacked. Twitter has been notified. The coin of the day tweet was not me. As you all know… I am not doing a coin of the day anymore!!!! The scammers are becoming problematic. Twitter has been no help. When I go into protected tweet mode my Twitter app crashes because it cannot handle the volume of follow requests. Do not fall for ANY giveaways.
I do not give away anything. The McAfee giveaway scam must have been quite successful, because a month later scammers were at it again with a giveaway scam, but this time with a faked Charlie Lee account.
Charlie Lee is the creator of Litecoin, and is known to be very active on Twitter. In late January scammers began creating fake accounts with handles similar to the real SatoshiLite handle used by Lee. For example, one tweet looked like this:. First 60 transactions with 0. Claim your LTC now! While experienced cryptocurrency enthusiasts and Twitter users would notice the difference, many novice users would easily be tricked. And the scammers got their message spread far and wide quickly by replying to any tweets or comments made by Charlie Lee himself, making it look even more like the giveaway was authentic.
Early in February the real Buterin had tweeted satirically that if users sent him 0. But if you send me 0. While all the above mentioned scammer accounts have since been suspended, there are new ones being created all the time, and Twitter seems to be unable to keep up with the onslaught. Other crypto-celebrities have also been targeted, as have cryptocurrency wallets, exchanges, and altcoin projects.
Of course as the community becomes increasingly aware of scams, the scammers become increasingly resourceful and tricky. The Verified accounts are those with a blue checkmark, and while this blue checkmark is only intended to verify identity, it has become a badge of trust on Twitter.
It turns out that the scammers hacked the verified account of non-profit LiteracyBridge and subsequently changed the name and handle of the account.
Twitter spokespeople claim that this should have removed the verified checkmark, but for some reason this was not the case. Making all these scams even more damaging has been the use of bot-nets and fake user accounts.
Basically these accounts are used to share and upvote the scamming tweets, thus adding social proof and fooling other users into taking action, or to retweet the scam tweets as well, spreading them further.
Twitter suspended public requests for verification all the way back in November as evidenced by a tweet from TwitterSupport:. And here we are 7 months later, no closer to any solution to the issue. As I said, Twitter is aware of the problem, and CEO Jack Dorsey has both acknowledge there is a problem, and that the verification system is broken. Techmeme founder Gabe Rivera suggested that Twitter could at least police the verified accounts, looking for changes to usernames, real names, profile pictures and header photos.
Another suggestion was to block the creation of account handles that are similar to the known or verified cryptocurrency projects and leaders. In almost every case the only reason to create one of these closely related alternate accounts is to scam people, or to perform some other nefarious action. That is, many of the bot-nets tend to swarm around the same types of fraudulent and scam posts, retweeting and upvoting en masse.
Because these bot-nets work together it should be possible to discover at least some of the networks simply based on the shared behavior. Another suggestion is to give people more control over what appears in their feeds, similar to the way Facebook allows users to specify not only who sees their posts, but what posts they see. Of course this diminishes the utility of Twitter to some extent, and might not be the best solution.
So, when a solution is finally implemented it will be a surprise to us all, and will almost certainly cause a good deal of consternation in the crypto Twitter-verse, despite the good intentions. The reality is that scammers can come up with new methods for stealing from people almost as fast as fixes can be put in place. It should be possible to limit the number of scams occurring, and this is what Twitter needs to put in place as soon as possible.
Bot-nets and scams exist in the dating, eBay, and Amazon niches, and likely in many more. Whatever the case, something needs to be done, and soon. Resource Hub Videos About Contact. Verified Twitter Accounts. Jack Response Twitter Scams. Author Steve Walters. Steve has been writing for the financial markets for the past 7 years and during that time has developed a growing passion for cryptocurrencies. Share on Social Media. Latest Posts. January 31, 22 min read. Related Posts.
Soulja Boy Tells 'Em He Got Paid to Tweet
David Z. The apparent accident could expose him to punitive action by the U. Securities and Exchange Commission, which handed out big fines and settlements when public figures including DJ Khaled, Floyd Mayweather and Paris Hilton promoted so-called initial coin offerings. Soulja or, more likely, a social media intern who is currently updating his or her resume included the terms of his compensation in a tweet promoting a token called SaferMars. Weirdly, the error may not actually be as dire as it seems. Failure to disclose payment was at the root of several prior SEC actions against celebrity crypto promoters. Rapper T.
Inside the group chats where people pump and dump cryptocurrency
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Calvin Becerra went viral earlier this year for a less-than-ideal reason. Scammers pretended to be interested in buying one of his NFTs in a Discord channel and tricked him by saying they could help him fix a problem with his crypto wallet. During troubleshooting, they raided his wallet. Then again, everything about money feels a little strange at the moment. Or, at the very least, value has rarely felt so disconnected from reality.
Elon Musk Tweets Pump Dogecoin But Not Bitcoin: Research
John David McAfee. Sweeney Jr. The two men are charged with multiple counts of conspiracy to commit fraud, as well as a single count of conspiracy to commit money laundering. According to the indictment, if convicted of all charges, each could face up to years in prison and financial penalties. Read More.
Kim Kardashian sued in crypto 'pump and dump' case
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Mirrored Twitter Best CryptoCurrency Wallets in 2021
EST: Kim Kardashian and boxer Floyd Mayweather are being accused of "aiding and abetting" a cryptocurrency pump-and-dump scheme according to a lawsuit filed in California court. The suit alleges the two misled investors when they promoted EthereumMax, a little-known cryptocurrency, to their social media followers and fans. A pump-and-dump scam is the illegal act of an investor or group of investors promoting a stock they hold and selling once the stock price has risen following the surge in interest as a result of their endorsement. Here, we take a closer look at how pump-and-dump schemes work and how to avoid them. Pump-and-dump schemes were traditionally done through cold calling. But with the advent of the internet, this illegal practice has become even more prevalent. Fraudsters post messages online enticing investors to buy a stock quickly, with claims to have inside information that some development will lead to an upswing in the share's price. Once buyers jump in, the perpetrators sell their shares, causing the price to drop dramatically.
John McAfee charged with securities fraud for ‘pump and dump’ cryptocurrency scheme
Bitcoin BTC could see a major pullback in the coming weeks if a bearish pattern formed recently validates the negative outlook. It would be wise to follow important Twitter accounts. This just shows how far BTC has come in its short history of existence.
The Anatomy of a Cryptocurrency Pump-and-Dump Scheme
Government Has Taken Notice. Here's What Investors Should Know. Ethereum Just Hit a 6-Month Low. Upgrade Bitcoin Rewards Card: 1. John Puterbaugh is a journalist with more than 10 years of experience leading editorial teams in personal….
Finding crypto pump alerts online is quite hard as most of the time, the pump is seen once it is already over. With the vast contents of the internet, there is a Twitter tool that might help those curious to learn more about the crypto market and where whales are moving. The account is on Twitter called CoinTrendz. As of recently, CoinTrendz. According to the tweet, the currency reportedly increased by a whopping It is important, however, to do research before joining pumps. For those that purchase the coin at just the right time, however, the potential for profits are quite high.
One of the most controversial characters in the soaring world of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority. Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology.
I beg your pardon that intervened ... I understand that question. We can examine.
There is something in this. Thank you so much for your help in this matter, now I will not make such a mistake.