Tuesday September 25, 2018
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Twitter working to fix cryptocurrency scam issue

On seeing that the threads were posted by "verified accounts", people fell in the trap and lost digital assets

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Avoid making decisions based on emotions and find reliable sources for information as it will become a trader’s best asset.
Avoid making decisions based on emotions and find reliable sources for information as it will become a trader’s best asset.
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  • Twitter to curb copycat handles
  • This will help is curbing scams related to cryptocurrency
  •  Many people have lost assets due to fake accounts

As the issue of copying verified Twitter accounts to trick cryptocurrency users is becoming increasingly prevalent, the microblogging company has said that it is working to curb these copycat handles.

Twitter working to eliminate fake accounts. VOA
Twitter working to eliminate fake accounts. VOA

Company CEO Jack Dorsey on Tuesday replied to a tweet that complained about the ongoing cryptocurrency scam on Twitter in which several users have been tricked and their digital assets were stolen.

“We are on it,” Dorsey replied to a user who questioned the CEO if the company was taking note of it, Coindesk.com reported. On February 26, Dorsey had said that his company was aware of the issue and they “are fixing” the problem.

Also Read: Twitter rolls out Bookmarks feature globally

Several users have been complaining about being duped on Twitter by fraudulent offers that promise a huge amount of Ether cryptocurrency in return for small initial deposits. These offers are being made by accounts that mimic well-known industry members and have a “blue tick” (verified account).

As a preventive measure, Twitter had banned several accounts, including the support team for cryptocurrency exchange Kraken despite they tried to warn others about the scam. On Tuesday, the ban on Kraken’s customer support handle was lifted.

“Good news, guys! @krakensupport is back! Strange that our initial appeal was also apparently handled by an automated system. Thank you all for your public outrage. Stay vigilant,” it announced.

Many people lost digital assets due to fake accounts on Twitter.
Many people lost digital assets due to fake accounts on Twitter.

According to the report, the scam began after an influencer posted a tweet regarding a fraudulent offer which was followed by similarly designed accounts.

In order to make the posts seem more legitimate, the spam accounts posted supportive messages, claiming that they have received the returns. On seeing that the threads were posted by “verified accounts”, people fell in the trap and lost digital assets. IANS

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Twitter Gets a Bug And Releases DM’s of 3 Mn Users To a Third Party Application

Twitter said it found no sign that hackers accessed the exposed data.

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Twitter
Twitter on a smartphone device. Pixabay

A bug in Twitter’s platform for third-party app developers exposed some Direct Messages (DMs) from nearly 3 million users to outsiders, the micro-blogging platform has admitted.

The bug ran from May 2017 and within hours of discovering it on September 10, Twitter said it fixed the bug to prevent data from being unintentionally sent to the incorrect developer.

“The bug affected less than 1 per cent of people on Twitter. The bug may have caused some of these interactions to be unintentionally sent to another registered developer,” Twitter said in a blog post on Saturday.

Twitter
Twitter Chief Executive Officer Jack Dorsey testifies before a Senate Intelligence Committee hearing on foreign influence operations and their use of social media on Capitol Hill. VOA

“In some cases, this may have included certain DMs or protected tweets, for example a Direct Message with an airline that had authorised an Account Activity API (AAAPI) developer.”

The Account Activity API allows registered developers to build tools to better support businesses and their communications with customers on Twitter.

Twitter currently has over 336 million users and one per cent means nearly 3 million of those were affected.

Twitter
The logo appears on a phone post on the floor of the New York Stock Exchange.. VOA

If your business authorised a developer using the AAAPI to access your account, the bug may have impacted your activity data in error.

“We’re very sorry this happened. If your account was affected by this bug, we will contact you directly through an in-app notice and on twitter.com,” said the company.

In May, the micro-blogging platform asked its 336 million users to change their password across its services after it discovered a bug that stored passwords in plain text in an internal system.

Also Read: A Rise in Pregnancy Phobia Due to Social Media Platforms

Twitter said it found no sign that hackers accessed the exposed data but advised users that they should enter a new password on all services where their current password has been used. (IANS)