Crypto Community Asks Twitter For More Attention To Fake Accounts

Blockchain, Investing, Regulation | July 17, 2018 By:

An open letter to Twitter CEO Jack Dorsey signed by prominent cryptocurrency leaders has questioned whether enough is being done to eliminate fake cryptocurrency accounts on the service.

Twitter has embarked over the last week on a campaign to eliminate fake accounts and those of questionable merit. The tactic has removed millions of accounts from the service, resulting in drops of “followers” among many politicians and celebrities, including Barak Obama, California Governor Jerry Brown, Taylor Swift, and Katy Perry, among others.

Even Twitter CEO Jack Dorsey claims to have lost about 200,000 followers, while Twitter itself has purged 7.8 million fake accounts.

The open letter to Dorsey has asked for Twitter to do more to eliminate those accounts focused on cryptocurrency. “A majority of influential figures and organizations are forced to submit dozens upon dozens of reports on impersonator accounts on a daily basis, never making an impact and only seeing the total cumulative number of false accounts climb,” said the letter’s reasoning.

Here is the letter in full, with signatories:

Dear Jack Dorsey,

Spam and suspicious accounts have become an unfortunate cornerstone in social media. Twitter Inc. appears to be at the forefront.

In mid-2018, Twitter made a discernible decision to improve “conversational health” for all users of the platform by purging the network of suspicious and dormant accounts. We commend this effort for the impact it will have on sentiment of Twitter’s legitimacy and accuracy, as it positively affects all individuals and organizations relying on the platform.

Twitter has been at the cusp of social-media technology, innovation and information sharing for years.  The power of Twitter is arguably in its ability to empower a global community of users around ideas and shared interests. However, the inability to fully address spam bots and maliciously false accounts is diluting the power of the platform for all companies, organizations and private individuals involved in the spaces of blockchain technology and cryptocurrency.  These accounts impersonate legitimate users, create scams and false giveaways, and falsify information in the public domain that distracts away from genuine information sharing.

Legitimate Twitter accounts of cryptocurrency and blockchain users and businesses, such as Ethereum (@ethereum), Vitalik Buterin (@VitalikButerin) and the parties involved in this statement, are unable to keep up with the torrent of maliciously falsified spam users and bots being created under the guise of their username.  A majority of influential figures and organizations are forced to submit dozens upon dozens of reports on impersonator accounts on a daily basis, never making an impact and only seeing the total cumulative number of false accounts climb.

Twitter’s public stance on cryptocurrency and blockchain technologies is inconsistent and ambiguous. At a time when companies and individuals, even not-for-profits intent on educating individuals, are barred from advertising to interested participants via Twitter, it is not just hypocritical, but shameful that the company allows these spam bots and false accounts to exist and rampantly scam users, while spreading misinformation.

We believe that Twitter is in a very powerful position to lead the world in establishing precedences. Not just on how a massive social media technology and network can systematically eliminate, or even drastically reduce, misinformation from being spread to the public, but simultaneously protecting their own users.

At every obstacle, the cryptocurrency and blockchain market has proven itself to prevail time and time again. By not containing these issues, Twitter is failing to live upto the standards it attempted to put in place when banning crypto-related advertisements. Therefore, we would like to invite Twitter and its partners to create these standards with us, so that we may effectively protect the public and accelerate innovation. Innovation cannot be done in silos; it cannot be done without communication.

In solidarity,

Svandis
Charlie Shrem
cryptoIQ
Credits
Cindicator
Blox
Akropolis
Latium
Tradunity Company
SLP Network
Sharebee
Ephelants360
Quebec Blockchain
ISX.is
Icelandic Blockchain Foundation
Crypto Rand
Jason Duval
Smart Picks