X, owned by Elon Musk, is preparing to introduce a new security feature that will automatically lock accounts that mention crypto for the first time. The move is designed to reduce the growing wave of phishing attacks that rely on hijacked accounts to promote scam tokens and fraudulent offers.
According to Nikita Bier, users whose accounts post about crypto for the first time will be required to complete additional verification before they can post again. The feature targets attackers who gain access to accounts and immediately use them to spread malicious links or fake promotions. Bier stated that the change could remove most of the incentive behind such scams.
The update follows reports of phishing emails disguised as copyright violation notices. Victims are directed to realistic login pages that capture passwords and two-factor authentication codes, allowing attackers to take control of accounts.
Platform Expands Anti-Scam Efforts Amid Rising Threats
Crypto scams have long been a challenge on X, continuing trends from its earlier years as Twitter. Common schemes include fake “double your money” promotions, impersonation of public figures, and fraudulent token launches designed to trick users into sending cryptocurrency.
One of the most notable incidents occurred during the 2020 Twitter Bitcoin Scam, when attackers gained control of prominent accounts and promoted fake Bitcoin giveaways, collecting over $100,000 before the posts were removed. That breach resulted from social engineering attacks targeting employees and later led to a prison sentence for the hacker.
X has previously introduced bot purges, API restrictions, and behavioral detection tools to improve safety. Bier also criticized Google for allowing phishing emails to pass through Gmail, arguing stronger email-level protection is necessary to reduce crypto-related fraud.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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