A troubling trend has surfaced as hackers make use of a feature on Elon Musk’s social media platform X to advertise fraud, phony giveaways, and phony Telegram channels. Because of this platform misuse, criminals are stealing NFT and cryptocurrencies by creating phony URLs that look like legitimate organizations.
How scammers operate:
According to MalwareHunterTeam, scammers take advantage of a flaw in the X app. They create phony URLs by mimicking legitimate businesses, especially in the cryptocurrency industry. It is done to generate false accounts for well-known organizations like Binance, the Ethereum Foundation, zkSync, and Chainlink. Scammers take advantage of the platform’s inability to validate account names and impersonate well-known users by tampering with the URL syntax. When users click on these fake URLs, they are then taken to real URLs connected to the ID.
User Caution:
The misuse of the X feature on Elon Musk’s platform highlights the vulnerability that scammers exploit to deceive users into falling victim to crypto and NFT scams. As scammers impersonate reputable crypto-related organizations, users must exercise heightened caution when engaging with posts and URLs on the platform.