Binance co-founder Changpeng Zhao (CZ) urged Elon Musk to ban bots — automated accounts that spam the social media web site and are used to amplify content material or for coordinated assaults — from the X platform.
“If somebody makes use of Grok, ChatGPT, or DeepSeek to generate a tweet and duplicate and paste it right here, high-quality, however API posting must be disabled,” CZ wrote in a March 9 X post.
In a separate comment, the Binance founder differentiated automated social media bots from AI brokers, saying that the latter was useful in real-world purposes equivalent to reserving accommodations or writing code with out having to socialize with them.
Automated bots are a well-documented drawback on X that spam the location and are significantly lively within the crypto sphere of affect — plaguing customers with rip-off messages promoting pretend tokens, phishing hyperlinks to malicious websites, and pump-and-dump schemes.
Supply: CZ
Associated: Pig butchering scams stole $5.5B from crypto investors in 2024 — Cyvers
X has an enormous bot drawback that simply will not go away
The crypto group has been asking Musk to tackle the bot problem since he purchased the platform in 2022. Nevertheless, little has been accomplished to curb the problem.
Musk has proposed a number of options to automated bots, together with asking customers to register a bank card that will incur a small payment of a number of cents to impose a price on new account creation, stopping bot farms from mobilizing armies of pretend accounts.
Typically, these bots impersonate crypto influencers and trade leaders to hawk pretend tokens or redirect customers to malicious websites through phishing links designed to steal funds.
AI-powered chatbots have additionally supercharged romance scams. These scams function a very long time horizon the place a risk actor pretends to have a romantic curiosity of their goal to construct up belief with the sufferer over time.
As soon as belief is sufficiently established, the malicious actor usually requests funds from the goal both by means of feigning monetary issues or pitching a pretend funding scheme.
A 2023 study from the Community Contagion Analysis Institute additionally discovered that bots have been chargeable for manipulating altcoin prices through the use of coordinated posts from a number of bots to artificially pump costs.
Journal: How crypto bots are ruining crypto — including auto memecoin rug pulls
