A total of 95,111 scam lists, created from 87,617 accounts, on the Twitter Lists function were responsible for ‘free crypto giveaway’ scams that led to $870,000 in financial losses between June 2022 and June 2023. That’s according to new research from San Diego State University, which developed a fully automated scam detection system called GiveawayScamHunter.
Crypto scams on Twitter Lists led to $870,000 in losses in one year
Researchers highlight urgent need for social networks to detect cryptocurrency scams and prevent their dissemination.