In a recent scam on X, an account posing as the Grayscale Bitcoin Trust (GBTC) promised $25 million of a new token called GBTC to users who visited the mentioned website. The account, @Grayscale_FND, had a blue checkmark, which gave it the appearance of being a legitimate account. However, the real Grayscale account has a gold checkmark, and the @Grayscale_FND account is not affiliated with Grayscale in any way.
This scam is just one example of how crypto scammers are taking advantage of the new verification system on X. Before Elon Musk bought Twitter and renamed it X, a blue checkmark was a sign that an account had been verified by Twitter, which meant that it had been vetted and was likely to be legitimate. However, now anyone can get a blue checkmark for a monthly fee of $8. This has led to a proliferation of scams on X, as scammers use blue checkmarks to make their accounts look more legitimate.
To avoid falling victim to a crypto scam on X, it is important to be aware of the new verification system and to be critical of any account that promises you free money or other unrealistic rewards. You should also check the account’s bio and website carefully to make sure that it is affiliated with a legitimate company or organization.
Here are some additional tips for avoiding crypto scams on X:
- Never give out your personal information, such as your password or seed phrase, to anyone you don’t know and trust.
- Never click on links in unsolicited messages.
- Be wary of any account that promises you free money or other unrealistic rewards.
- Do your research before investing in any cryptocurrency.
If you think you have been scammed, you should report it to the authorities and to the platform where the scam took place. You should also contact your bank or credit card company to dispute any charges that were made as a result of the scam.
By being aware of the risks and taking precautions, you can help protect yourself from crypto scams on X.