Crypto Scammers and Impersonators Increase Amid Market Hype

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Twitter accounts with a “verified” mark that has replicated Buterin’s profile picture, name, and profile description have been identified for actively promoting fake ETH giveaways and misleading investors. Scammers are using such verified profiles to avoid being caught or suspected of their ill intentions. To avoid being a victim of such scams on social media, it is important to pay attention to the Twitter handle’s username and profile. Usually, 90% of the comments are just bots. Bad actors find it easier to fool investors that are unaware of scams amid the hype and are relatively new to the market. A fake Twitter profile impersonating Binance CEO caused even Elon Musk to publicly call out and draw attention to the problem.