Twitter Ad Scam Drains $59M from 63k Users in Crypto Heist(medium.com)
medium.com
Twitter Ad Scam Drains $59M from 63k Users in Crypto Heist
https://medium.com/@abijitafoundation/twitter-ad-scam-drains-59-million-from-63k-users-in-crypto-heist-88725328e73c
15 comments
The linked article doesn't contain much information or screenshots, here's the real source: https://www.bleepingcomputer.com/news/security/crypto-draine...
> “Crypto is super legitimate, bro.”
It’s really not. I’m so tired of people being surprised by articles like this. Scams like this and ransomware would simply not exist without cryptocurrency, and that’s enough for me to eschew their use entirely.
There is literally no legitimate excuse for cryptocurrency, and I don’t think there ever was.
It’s really not. I’m so tired of people being surprised by articles like this. Scams like this and ransomware would simply not exist without cryptocurrency, and that’s enough for me to eschew their use entirely.
There is literally no legitimate excuse for cryptocurrency, and I don’t think there ever was.
To be fair, I think the most useful applications of blockchain technology are still to come. For example, NFTs could let gamers wear the same hat across multiple video games, and allow the creation of a speculative market for video game hats.
Virtual haberdashery owner is the dream I never knew I had, until now.
Wow, video game hat exchange, such innovation!
Can’t tell if this comment is sarcastic or not, genuinely.
"Dollars are super legitimate, dude"
Except that the most international crime is enumerated in $. Do we ban dollars? Probably not and, again, we have nothing better than conclude that since we put together "crypto" and "scam" we conclude all "crypto bad". Zero exceptions. Why are comments like this allowed on a "nerdy site"? Can someone please explain or better yet stop it. Where is @dang when you need her?
Except that the most international crime is enumerated in $. Do we ban dollars? Probably not and, again, we have nothing better than conclude that since we put together "crypto" and "scam" we conclude all "crypto bad". Zero exceptions. Why are comments like this allowed on a "nerdy site"? Can someone please explain or better yet stop it. Where is @dang when you need her?
Currency from one country doesn’t enable any crime or scam that any other currency from any other country doesn’t also enable.
Bitcoin and other cryptocurrencies allow new crimes and scams.
I maintain that cryptocurrency in general is a borderline scam in and of itself. Prices are easily manipulated and once you convince enough people that cryptocurrency is good, people start exchanging it for actual money, and then it crosses from borderline scam into actual scam.
Bitcoin and other cryptocurrencies allow new crimes and scams.
I maintain that cryptocurrency in general is a borderline scam in and of itself. Prices are easily manipulated and once you convince enough people that cryptocurrency is good, people start exchanging it for actual money, and then it crosses from borderline scam into actual scam.
Recently I saw a swarm of ads on X for crypto scam or an adult site thing. It's like you will see only a single advertisment everywhere on X. Not like multiple advertisement changing all the time.
Also a lot of fraud likes or spamming referral posts. What is shitty is that you report them 5 times and still it is displayed again. Always with the exact same message so it should be easy for X to filter.
Also a lot of fraud likes or spamming referral posts. What is shitty is that you report them 5 times and still it is displayed again. Always with the exact same message so it should be easy for X to filter.
So you're saying speech can be not just free, but profitable?
This scam site is just advertised there. Ads have nothing to do with free speech. This is more about bad (or inexistent) QA on the ads.
Also let’s stop repeating the claim that Twitter has “free speech“. You can’t criticize Elon there, or post the location of his jet. “Free speech” is just a thin veiled lie to excuse their bringing in extremists like Alex Jones or Trump.
Also let’s stop repeating the claim that Twitter has “free speech“. You can’t criticize Elon there, or post the location of his jet. “Free speech” is just a thin veiled lie to excuse their bringing in extremists like Alex Jones or Trump.
Its wild to see the community notes under most of the ads warning of scams. I've see debates break out in the comment thread under the ads about just what kind of scam it is.
Ads are still UGC, it just costs more to post and guarantees views (at least for now, until everyone leaves). Seeing ads as magically separate is to not understand Twitter’s business model.
So “QA” on ads is still moderation and, if you like, can be called “censorship”. Interestingly, under Musk Twitter still moderates ads more strictly than tweets.
The bar has been dropping, since it’s either QA and almost no ads or profit, or this kind of shady ads and at least some profit. Original Twitter in this situation was burning money by not showing ads at all while working hard on publicity and reputation to attract the big advertisers and become a sustainable business. Now the new guy comes says he will stop them burning money… and basically nukes the business model.
So “QA” on ads is still moderation and, if you like, can be called “censorship”. Interestingly, under Musk Twitter still moderates ads more strictly than tweets.
The bar has been dropping, since it’s either QA and almost no ads or profit, or this kind of shady ads and at least some profit. Original Twitter in this situation was burning money by not showing ads at all while working hard on publicity and reputation to attract the big advertisers and become a sustainable business. Now the new guy comes says he will stop them burning money… and basically nukes the business model.
That's the joke; I guess it went over your head.
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