Elon Musk Slashes Crypto Bot Activities with One Tweet, DOGE Co-Founder Verifies

Elon Musk has claimed that a bunch of people are running bots and troll accounts on Twitter and their identified IP address will soon be tackled by the Twitter team.

Written by Radhika Parashar, Edited by Richa Sharma | Updated: 12 December 2022 16:01 IST

Elon Musk Slashes Crypto Bot Activities with One Tweet, DOGE Co-Founder Verifies

Photo Credit: Reuters

Crypto spam volume on Twitter has risen by 1,374 percent in the last three years

Highlights

Twitter was purchased by Elon Musk earlier this year
Elon Musk aims to free Twitter from financial risks propagated by bots
Several members of the crypto community are being scammed on Twitter

Elon Musk, who purchased Twitter earlier this year, has been very vocal about his aim to get rid of crypto bods from the micro-blogging platform. Musk, over the weekend, tweeted a warning targeted at the bots swarming around on the social networking app. Soon after, industry members including Dogecoin co-founder Billy Markus confirmed that bot activities did dip down on Twitter following Musk's alert. Musk wishes to take bots off Twitter, where a bunch of suspicious and potentially dangerous scam threats are exposing millions of people to financial risks.

Musk has claimed that a bunch of people are running bots and troll accounts on Twitter and their identified IP address will soon be tackled by the Twitter team.

The bots are in for a surprise tomorrow
— Elon Musk (@elonmusk) December 11, 2022

That's my guess: small number of humans with large bot/troll armies. We are shutting down IP addresses of known bad actors today. Should have been done long ago.
— Elon Musk (@elonmusk) December 11, 2022

Dogecoin's Markus, along with Bitcoin analyst who goes by the name of PlanB on Twitter, ran tests to check if the bot army subside its activities post Musk's warning.

They also congratulated the Tesla and SpaceX CEO on making progress with his anti-bot plans.

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i made a test post and instead of seeing 50 bot replies i only saw one

much progress, very hype
— Shibetoshi Nakamoto (@BillyM2k) December 11, 2022

Just testing if the bots are really gone! pic.twitter.com/2v7BU3xMfu
— PlanB (@100trillionUSD) December 11, 2022

In May, crypto intelligence firm LunarCrush claimed that the spam volume on Twitter has risen by 1,374 percent in the last three years.

Back in August, a cyber security analyst who goes by the name of ‘Serpent' tweeted to his followers that the crypto community is very unsafe on Twitter.

As per Serpent, bad actors have been pretending to be helping victims of phishing scams and later using the ‘crypto recovery scam' technique to further dupe them. The scammers claim to be blockchain developers and ask for a fee to deploy a smart contract to recover stolen funds before they charge a fee and flee.

Under the circumstances, Musk has vouched to take down bot accounts as soon as they are identified.

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“Twitter will also be moving to prosecute scammers anywhere on Earth,” the multi-billionaire noted.

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Further reading: Cryptocurrency, Elon Musk, Twitter, Bots

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More