Since the launch of Meta’s new microblogging app, Threads, scammers have wasted no time in attempting to deceive users. Despite the app’s growing popularity, with over 98 million sign-ups since its release on July 5, several high-profile Crypto Twitter users have already encountered imposter accounts and warned others about them.
One of the notable incidents occurred on July 8 when Wombex Finance, a decentralized finance platform, tweeted about a Threads account impersonating their project. They cautioned users that it could be a scammer since their project was not present on the platform. Similarly, Leonidas, a prominent nonfungible token (NFT) influencer, informed their 93,000 followers a day earlier that both they and other “large NFT accounts” were being impersonated on Threads.
To combat this issue, Leonidas created an account on Threads to confront the impersonators directly. Another Twitter user, Jeffrey Huang, also known as Machi Big Brother, shared his Threads profile on July 6, only to discover that there was already an imposter account mimicking his Twitter persona.
Scammers sharing phishing links
So far, the imposter accounts mentioned in the reports have refrained from sharing scams or phishing links. Instead, they primarily post crypto-related content. However, this kind of deceptive behavior is not new on social media platforms, particularly Twitter. Over the years, Twitter has been a favored channel for crypto phishing scammers. A common scammers tactic involves hacking into the accounts of well-known individuals and businesses and then posting malicious links.
These links typically aim to trick unsuspecting targets into sharing sensitive information, such as their crypto exchange login credentials, crypto wallet seed phrases, or connecting their wallets to crypto-draining smart contracts. According to a report by Web3 security firm Beosin, such phishing scams resulted in the theft of approximately $108 million worth of cryptocurrencies in the first half of this year.
Given the increasing popularity of Threads and the prevalence of scams in the crypto space, it is crucial for users to exercise caution and remain vigilant. Verifying the authenticity of accounts, avoiding sharing sensitive information, and reporting suspicious activity are essential steps to protect oneself from falling victim to these scams. Meta, the parent company of Threads, will likely take action to address scammers’ issues and enhance security measures to ensure a safer user experience on the platform.
