Do you know that crypto spam increases 4,000% in two years?

Spam and bots have been taboo for anyone using the Internet for years, and it has grown exponentially in the crypto space.

Cryptocurrency intelligence provider LunarCrush says crypto spam has increased by 3,894% over the past two years. The company has been collecting crypto-specific social data since 2019 and says this is not only at an all-time high but also the fastest growing on social media.

The findings, published in a May 25 report, said “more spam accounts than you would think are actually people”. For this reason, detection and flagging are often a challenge for software.

Twitter is the most popular social media platform in the industry, and it’s flooded with spambots. According to LunarCrush, the amount of spam on Twitter is estimated to have increased by 1,374% over the past two years.

LunarCrush CEO Joe Vezzani emphasized:

“For a Web2 platform like Twitter, there is a direct incentive to turn a blind eye to fake accounts because it increases the value of their platform.”

Tokenized Web3 platforms, such as AAVE’s Lens Protocol or Orbis, differ in that they desire as many real users as possible to own the asset rather than extracting value from the community, he says.

Earlier this month, Elon Musk paused his Twitter takeover pending further details to further support his assertion that spam and fake accounts account for less than 5% of the platform’s traffic.

Musk plans to crack down on spambots that have plagued the platform and suggest that the company’s claims of 95% of real users are exaggerated.

Deleting bot accounts will reduce the follower count of most real accounts. One estimate from SparkToro suggests that Musk could lose half of his 95 million followers. Earlier this month, the software company that conducted an in-depth analysis reported that nearly 20% of active Twitter accounts are fake.

Until Musk finds a way and gets the spammers out of Twitter, users of the platform and other social media sites will have to be on the lookout for a wave of crypto scams that none of them have ever seen before. they have control.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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