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Binance Co-Founder CZ Calls for Action Against Bots on X
Changpeng Zhao, co-founder of the world’s largest cryptocurrency exchange by trading volume, Binance, has called upon Elon Musk to take decisive action against automated bot accounts on social media platform X. In a recent tweet, CZ emphasized his stance that the proliferation of bots on X is detrimental to user engagement and fosters an environment conducive to spam, impersonation, and fraudulent activities.
CZ’s call for action comes at a time when bot activity continues to plague the platform. The crypto market has seen instances of scammers using automated accounts to distribute phishing links, spread misinformation, and pump-and-dump schemes, ultimately affecting real users’ experiences. These malicious activities have led CZ to urge Musk to disable API posting on X, which enables bots to publish content without human input.
In a tweet, CZ asserted that he “only want[s] to interact with humans” and believes that disabling API posting would significantly minimize the issue. He further differentiated AI agents from social media bots, highlighting their practical applications in various industries such as booking hotels or generating code.
The persistence of bot activity on X raises concerns over the platform’s ability to maintain a safe and trustworthy environment for its users. Bot traffic has been reportedly as high as 20% to 90% before Elon Musk took control of the platform. Cybersecurity firm CHEQ previously stated that more than half of the platform’s traffic is inauthentic, leading CZ to reiterate his call for action.
Despite efforts by Elon Musk to curb bot activity, scammers have adapted and evolved their tactics, exploiting verification systems to gain legitimacy through paid subscriptions. This has led to a rise in fraudulent accounts displaying blue checkmarks, rendering them challenging to identify as fake.
Source: https://cryptonewsland.com/binance-co-founder-cz-calls-for-action-against-bots-on-x/
