- Twitter has become a victim of a scam involving more than 3000 fake accounts, all targeted towards stealing NFTs and cryptocurrency.
- The users are prompted to grant access to their wallets under the presumption of minting new NFTs free of cost.
- The detailed report and survey published by NISOS, an intelligence management company, has pointed out this in the recent release.
Despite the continued warnings from consumer protection services, crypto and blockchain scams have increased on social media. According to research published on Thursday, thousands of Twitter accounts have been impersonating legitimate NFT stores to deceive cryptocurrency users. Also, they raise questions about what the platforms are doing to protect their users and eliminate fake accounts.
The research is backed by the survey conducted by NISOS, a managed intelligence company that states that nearly 3000 fake accounts tweeted approximately 6000 tweets linking to the fraud storefronts on the web3 world. The users’ call to action has been to mint new NFTs without any cost involved. And the end users who need to be more educated about the web3 space get stuck in this scam.
Additionally, the users are prompted to give access to their wallets to mint new NFTs.The researchers must determine how much money has been scammed in such cases. Furthermore, researchers found more than 500 domains used by the fraud network, all linked to a single IP address.
Bloomberg also reported this scam in May 2022, on how scammers were hijacking Twitter accounts to pose as a popular NFT project. The detailed report by NISOS explains the extent and how the scammers have been doing this for the past year.