Binance co-founder Changpeng 'CZ' Zhao has called on Elon Musk to enhance efforts to tackle automated bots on the X platform, which pose threats to the crypto sphere.
The Main Issues with Automated Bots
Changpeng Zhao expressed the need to disable API posting on X as a response to the issue of bots impersonating influencers, spreading malicious links, and artificially manipulating markets. Despite Elon Musk's promises made after acquiring the platform in 2022, the problem remains unresolved.
Threats from AI Bot Crypto Scams
AI-driven bots are becoming increasingly sophisticated, employing deceptive tactics to target users. 'Pig butchering' scams involve perpetrators posing as love interests, engaging victims in prolonged conversations before eventually defrauding them out of their money or investments. Studies have found that coordinated bot activity artificially inflates token prices through mass posts, creating false hype.
Will Elon Musk Tackle the Bot Problem?
The crypto investment community continues to call for decisive action against bots. Proposed measures by Elon Musk, such as credit card verification, could add friction to bot creation, though skeptics argue that well-resourced scammers might easily circumvent these barriers.
The threat of automated bots and their impact on the crypto industry remains pressing. Changpeng Zhao's call may prompt Elon Musk to seek an effective solution.
