In a bold move to combat the rampant issue of bots and trolls plaguing his social media platform X, billionaire business mogul, and entrepreneur Elon Musk says there will be a total system purge. The target of the system purge is to cleanse the platform of fraudulent accounts that have been operated by bots and trolls in perpetuating crypto scams.

Elon Musk Promises Legal Action

Musk personally took to his handle to share the initiative on X. The announcement has sent excitement around the crypto community with many hoping it will signal a potential end or drastic reduction in such fraudulent activities going forward.

Musk urged users to report any legitimate accounts that may inadvertently get suspended during the system purge process. 

Additionally, Musk has directed users to contact @XEng for assistance should such occur. X users have reacted to the news hailing it as a positive step which will see a great reduction in the number of imposter accounts.

System purge of bots & trolls underway.

Please reply to me or @XEng if legitimate accounts are suspended.

X Corp will be tracing the people responsible and bringing the full force of the law to bear upon them.

— Elon Musk (@elonmusk) April 4, 2024

The prevalence of crypto scams has long been a concern within the crypto community, with many investors falling victim to fraudulent schemes and suffering significant financial losses. 

According to a December 2023 report, crypto hackers used Google search and X ads to fleece over 63,000 victims of $58.98 million worth of stolen crypto.

Similarly in January, Certik, a blockchain security auditing firm, experienced a security breach when hackers compromised their X account, enabling the fraudsters to initiate a phishing campaign. 

The attackers deceived Certik’s followers with phishing messages.

Fighting The Persistent Crypto Scam Challenge

Furthermore, Elon Musk has vowed to take decisive action against anyone or groups responsible for orchestrating these scams. Through X Corp, the tech mogul asserts that perpetrators will be identified and pursued with the full force of the law.

According to him, “X Corp will be tracing the people responsible and bringing the full force of the law to bear upon them.”

At the beginning of this year, Ripple CEO, Brad Garlinghouse criticized Elon Musk’s X for not doing enough to address the sophisticated deepfake video scam targeted at XRP. 

However, as Musk spearheads this initiative, the crypto community eagerly anticipates positive results of the system purge and a reduction in the prevalence of crypto scams on the social media platform.

Some crypto enthusiasts and investors alike see Musk’s commitment to addressing the issue of crypto scams by purging bots, which are commonly utilized in these fraudulent schemes as a significant step towards creating a safer environment for users.

The post Elon Musk Teases Bot And Trolls Purge On X, End Of Crypto Scam? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am