Ahead of The Merge, Twitter accounts impersonating Vitalik Buterin and other prominent founders have increased their activities.
Scammers are actively posing as Ethereum co-founder Vitalik Buterin on verified Twitter accounts to defraud investors as a result of the hype around The Merge.
The main issue with Twitter is bots, which have been repeatedly mentioned by prominent businessmen, including one of the richest men in the world, Elon Musk. Scammers have increased efforts to hide their nefarious intentions, meanwhile, by utilizing verified profiles.
There are currently over six verified Twitter accounts that use Buterin’s name, profile picture, and description exactly. In order to get access to investors’ cryptocurrency wallets, the accounts have been actively advertising phony Ether (ETH) giveaways.
Observing the Twitter handle, sometimes referred to as the username of the profiles, is the best approach to spot bogus accounts. As seen below, phony Twitter accounts imitating Changpeng Zhao, CEO of Binance, have grown recently, requiring Musk to publicly address the issue.
The Ethereum Foundation has occasionally been impersonated by con artists looking to acquire the trust of the general public. Investors who are often unaware of frauds during the hype, such as bull runs and important events like network upgrades, are particularly simple to con by criminal actors.
The purpose of this article is to serve as a warning to cryptocurrency investors so they don’t fall victim to attacks and scams that are intended to steal their money.
Google, which is also anticipating The Merge, added a countdown meter showing how long it will take for the Ethereum blockchain to switch from a proof-of-work (PoW) consensus method to a proof-of-stake (PoS) one.
According to current Google search statistics, searches for the term “Ethereum Merge” frequently produced scores above 50 over the past 30 days, with a peak of 100 on September 3.