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Twitter Ad Scam Drains $59M from 63k Users in Crypto Heist

25 points by rex_lupi 3y ago

anigbrowl 3y ago
So you're saying speech can be not just free, but profitable?
- two_handfuls 3y ago
  This scam site is just advertised there. Ads have nothing to do with free speech. This is more about bad (or inexistent) QA on the ads. Also let’s stop repeating the claim that Twitter has “free speech“. You can’t criticize Elon there, or post the location of his jet. “Free speech” is just a thin veiled lie to excuse their bringing in extremists like Alex Jones or Trump.
  - jetbalsa 3y ago
    Its wild to see the community notes under most of the ads warning of scams. I've see debates break out in the comment thread under the ads about just what kind of scam it is.
  - anileated 3y ago
    Ads are still UGC, it just costs more to post and guarantees views (at least for now, until everyone leaves). Seeing ads as magically separate is to not understand Twitter’s business model. So “QA” on ads is still moderation and, if you like, can be called “censorship”. Interestingly, under Musk Twitter still moderates ads more strictly than tweets. The bar has been dropping, since it’s either QA and almost no ads or profit, or this kind of shady ads and at least some profit. Original Twitter in this situation was burning money by not showing ads at all while working hard on publicity and reputation to attract the big advertisers and become a sustainable business. Now the new guy comes says he will stop them burning money… and basically nukes the business model.
  - anigbrowl 3y ago
    That's the joke; I guess it went over your head.
deleted 3y ago
[deleted]
naikrovek 3y ago
> “Crypto is super legitimate, bro.” It’s really not. I’m so tired of people being surprised by articles like this. Scams like this and ransomware would simply not exist without cryptocurrency, and that’s enough for me to eschew their use entirely. There is literally no legitimate excuse for cryptocurrency, and I don’t think there ever was.
- dorkwood 3y ago
  To be fair, I think the most useful applications of blockchain technology are still to come. For example, NFTs could let gamers wear the same hat across multiple video games, and allow the creation of a speculative market for video game hats.
  - MisterSandman 3y ago
    Can’t tell if this comment is sarcastic or not, genuinely.
  - javari 3y ago
    Virtual haberdashery owner is the dream I never knew I had, until now.
  - boeingUH60 3y ago
    Wow, video game hat exchange, such innovation!
- jakupovic 3y ago
  "Dollars are super legitimate, dude" Except that the most international crime is enumerated in $. Do we ban dollars? Probably not and, again, we have nothing better than conclude that since we put together "crypto" and "scam" we conclude all "crypto bad". Zero exceptions. Why are comments like this allowed on a "nerdy site"? Can someone please explain or better yet stop it. Where is @dang when you need her?
  - naikrovek 3y ago
    Currency from one country doesn’t enable any crime or scam that any other currency from any other country doesn’t also enable. Bitcoin and other cryptocurrencies allow new crimes and scams. I maintain that cryptocurrency in general is a borderline scam in and of itself. Prices are easily manipulated and once you convince enough people that cryptocurrency is good, people start exchanging it for actual money, and then it crosses from borderline scam into actual scam.
nulld3v 3y ago
The linked article doesn't contain much information or screenshots, here's the real source: https://www.bleepingcomputer.com/news/security/crypto-drainer-steals-59-million-from-63k-people-in-twitter-ad-push/ https://www.bleepingcomputer.com/news/security/crypto-draine...
greatgib 3y ago
Recently I saw a swarm of ads on X for crypto scam or an adult site thing. It's like you will see only a single advertisment everywhere on X. Not like multiple advertisement changing all the time. Also a lot of fraud likes or spamming referral posts. What is shitty is that you report them 5 times and still it is displayed again. Always with the exact same message so it should be easy for X to filter.

25 points by rex_lupi 3y ago

anigbrowl 3y ago

So you're saying speech can be not just free, but profitable?

two_handfuls 3y ago
This scam site is just advertised there. Ads have nothing to do with free speech. This is more about bad (or inexistent) QA on the ads. Also let’s stop repeating the claim that Twitter has “free speech“. You can’t criticize Elon there, or post the location of his jet. “Free speech” is just a thin veiled lie to excuse their bringing in extremists like Alex Jones or Trump.
- jetbalsa 3y ago
  Its wild to see the community notes under most of the ads warning of scams. I've see debates break out in the comment thread under the ads about just what kind of scam it is.
- anileated 3y ago
  Ads are still UGC, it just costs more to post and guarantees views (at least for now, until everyone leaves). Seeing ads as magically separate is to not understand Twitter’s business model. So “QA” on ads is still moderation and, if you like, can be called “censorship”. Interestingly, under Musk Twitter still moderates ads more strictly than tweets. The bar has been dropping, since it’s either QA and almost no ads or profit, or this kind of shady ads and at least some profit. Original Twitter in this situation was burning money by not showing ads at all while working hard on publicity and reputation to attract the big advertisers and become a sustainable business. Now the new guy comes says he will stop them burning money… and basically nukes the business model.
- anigbrowl 3y ago
  That's the joke; I guess it went over your head.

deleted 3y ago

[deleted]

naikrovek 3y ago

> “Crypto is super legitimate, bro.” It’s really not. I’m so tired of people being surprised by articles like this. Scams like this and ransomware would simply not exist without cryptocurrency, and that’s enough for me to eschew their use entirely. There is literally no legitimate excuse for cryptocurrency, and I don’t think there ever was.

dorkwood 3y ago
To be fair, I think the most useful applications of blockchain technology are still to come. For example, NFTs could let gamers wear the same hat across multiple video games, and allow the creation of a speculative market for video game hats.
- MisterSandman 3y ago
  Can’t tell if this comment is sarcastic or not, genuinely.
- javari 3y ago
  Virtual haberdashery owner is the dream I never knew I had, until now.
- boeingUH60 3y ago
  Wow, video game hat exchange, such innovation!
jakupovic 3y ago
"Dollars are super legitimate, dude" Except that the most international crime is enumerated in $. Do we ban dollars? Probably not and, again, we have nothing better than conclude that since we put together "crypto" and "scam" we conclude all "crypto bad". Zero exceptions. Why are comments like this allowed on a "nerdy site"? Can someone please explain or better yet stop it. Where is @dang when you need her?
- naikrovek 3y ago
  Currency from one country doesn’t enable any crime or scam that any other currency from any other country doesn’t also enable. Bitcoin and other cryptocurrencies allow new crimes and scams. I maintain that cryptocurrency in general is a borderline scam in and of itself. Prices are easily manipulated and once you convince enough people that cryptocurrency is good, people start exchanging it for actual money, and then it crosses from borderline scam into actual scam.

nulld3v 3y ago

The linked article doesn't contain much information or screenshots, here's the real source: https://www.bleepingcomputer.com/news/security/crypto-drainer-steals-59-million-from-63k-people-in-twitter-ad-push/ https://www.bleepingcomputer.com/news/security/crypto-draine...

greatgib 3y ago

Recently I saw a swarm of ads on X for crypto scam or an adult site thing. It's like you will see only a single advertisment everywhere on X. Not like multiple advertisement changing all the time. Also a lot of fraud likes or spamming referral posts. What is shitty is that you report them 5 times and still it is displayed again. Always with the exact same message so it should be easy for X to filter.