Content: Since the recent launch of Meta’s microblogging app, Threads, there has been an influx of potential crypto scammers on the platform. Notably, several prominent Crypto Twitter users have already issued warnings about imposter accounts on Threads. Although the app has garnered over 98 million sign-ups within a few days, it still falls short of Twitter’s estimated 450 million users. Nevertheless, concerns have arisen as fake accounts impersonating individuals or projects have surfaced on Threads.

On July 8, decentralized finance platform Wombex Finance drew attention to an impersonating Threads account, cautioning that it could be operated by a scammer as the legitimate project does not have an account on the platform. Leonidas, an influential figure in the nonfungible token (NFT) space, also expressed a similar warning to their substantial follower base, stating that “large NFT accounts” like theirs are being impersonated by “scammers” on Threads. To combat impersonators, Leonidas has created an account on the platform .

Even before the official launch, on July 6, Jeffrey Huang, known as Machi Big Brother on Twitter, shared his Threads profile, only to discover that there was already an account impersonating his Twitter persona [1]. However, it is worth noting that the mentioned Threads accounts have refrained from sharing scam or phishing links, focusing primarily on posting crypto-related content.

Twitter has long been a popular platform for crypto phishing scams, often involving hackers gaining control of high-profile accounts and disseminating malicious links. These links typically aim to deceive unsuspecting victims into divulging their crypto exchange login information, seed phrases for crypto wallets, or connecting wallets to smart contracts that drain funds. According to a report by Web3 security firm Beosin, such phishing scams resulted in the theft of $108 million worth of cryptocurrency in the first half of this year .

It is crucial for users of Threads and other social media platforms to exercise caution, verify the authenticity of accounts, and refer to official channels to avoid falling victim to scams. The prevalence of impersonation and scamming underscores the need for heightened vigilance within the crypto community.