Cryptocurrency is one of the largest emerging exchange assets in the world. Although it has some privacy concerns. We, humans, are already struggling to explore hacks and scams involving cryptocurrency. And now here comes the bots to bother us.
According to a report: A network of 15,000 bots are working together to prevail a crypto scam. In a study to search the best way of recognizing twitter bots, the Duo Security’s researchers found out the whole fraud. Basically, these bots were controlling twitter accounts in place of the humans.
Therefore the researchers presented their study in an information security conference Back Hat, in Las Vegas, NV on Wednesday. The researchers gave all the facts and figures.
To distinguish between bots and humans, the researchers kept their eyes on 88 million public Twitter accounts from May to July 2018. This enabled them to figure out the network path. They also used machine learning and other high tech solutions to analyze the tweets. They analyzed almost 500 million tweets from those accounts.
Consequently, this data analysis helped the researchers to identify the bots. And also the crypto scam led by them. The whole network consists of 15,000 twitter bots which were spreading a false cryptocurrency business.
According to their scheme, the person had to invest some amount of an existing cryptocurrency. Then they will get the much higher amount in return. But unfortunately, the people who trusted and paid their crypto got nothing in return. Obviously, the scheme model is too lame and fake.
However, Twitter is investigating the crime, but the company has to shut down so many accounts.
The main issue with Twitter bots:
The people who use Twitter on a daily basis must have come across with at least one bot. These bots are simply famous for spreading fake news. They can even influence elections and are able to change our mind. Plus it is very tough to identify them online.
There is still no such easy technique available with which we can fix this problem. Although studies like Duo Security are the only measure to avoid scams and security dis-functions.