Twitter Crypto Scam Lists Lead to $870k Losses!

The post Twitter Crypto Scam Lists Lead to $870k Losses! appeared first on Coinpedia Fintech News

Twitter Lists promoting crypto scams led to almost $870k in monetary losses in just one year. The team developed a detection system called GiveawayScamHunter, which spotted 95,111 scam lists made from 87,617 accounts on Twitter between June 2022 and June 2023. Over the period under investigation, just over half of the scam accounts were not suspended. The research highlights Twitter’s weaknesses when it comes to tackling the problem of scams on the site, indicating that fraudulent activity is slipping through the net.