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Twitter Tries To Prevent Cryptocurrency Scams On Platform


Social media giant Twitter Inc. (TWTR) is reportedly taking required steps to prevent alleged cryptocurrency-related scams spreading across its platform.

According to Bloomberg, Twitter is aware of cryptocurrency-related "manipulation," and is implementing measures to "prevent these types of accounts from engaging with others in a deceptive manner."

Facebook recently banned ads tied to cryptocurrencies, initial coin offerings and binary options, claiming that the are misleading and deceptive. However, Twitter said it allows ads that don't violate the Twitter Advertising rules.

When visiting Bitcoin's twitter handle, a warning shows up-- "Caution: This account is temporarily restricted. You're seeing this warning because there has been some unusual activity from this account."

Recently, several people impersonating famous people like Ethereum co-founder Vitalik Buterin, Elon Musk, or John McAfee have made huge amount of money through cryptocurrency scams on Twitter.

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