Digital assets token accounts, along with a horde of crypto enthusiasts on the sprawling ecosystem of Twitter, have been found to bear the brunt of a surprising variegation – an influx of counterfeit followers. The disclosure by a recent report resonates with one of the prime concerns voiced by Elon Musk, who, following his historic $44 billion deal acquisition of Twitter, declared war against spam bot accounts. Elon claimed these to be the most vexatious thorns in Twitter’s side in an April 2022 tweet.
However, reports have emerged suggesting that as many as 10% followers of crypto coin accounts and crypto circles’ influencers on the Twitter platform are fraudulent doppelgängers. Within the cryptocurrency parameters, the account parading the highest number of synthetic followers is the Shiba Inu (SHIB) coin – with 10.26%, roughly translating to 80,000 accounts. This figure is followed by Avalanche (AVAX) and Polygon (MATIC).
Professionals conjecture, this proliferation of fake followers might be a result of the inherent popularity paired with the freshness that surrounds these coins. This inflates their follower count, propelling the illusion of an exaggerated popularity. Soaring as a likable entity, Dai (DAI) was seen to have attained a score of 9 out of 10, while on the opposite end of the spectrum, Ripple (XRP) was identified as the most despised, scoring a measly 4.1.
From April, Musk made the announcement that only verified accounts will have the right to participate, attributing it to the sole practical solution to tackle the advanced bot menace. And yet, roughly 4.76% of Musk’s colossal follower base comprising 141.6 million are non-human entities – adding to the existing 6.7 million fake followers.
Simultaneously, top crypto influencers on social media, including the acclaimed Samson Mow (@Excellion), are grappling with a substantial increase in deceptive followers. Estranged CEO of Twitter, Jack Dorsey, President of El Salvador Nayib Bukele, and Ethereum co-founder Vitalik Buterin are no exceptions.
In a recent disclosure, Musk halted a popular Twitter bot, branding it a scam. With a rising wave of pseudo-followers, deploying assertive frameworks to curtail this issue has become a dire necessity for crypto companies and influencers.
Source: Cryptonews
