Binance co-founder Changpeng Zhao (CZ) urged Elon Musk to ban bots — automated accounts that spam the social media website and are used to amplify content material or for coordinated assaults — from the X platform.
"If somebody makes use of Grok, ChatGPT, or DeepSeek to generate a tweet and duplicate and paste it right here, high quality, however API posting must be disabled," CZ wrote in a March 9 X post.
In a separate comment, the Binance founder differentiated automated social media bots from AI brokers, saying that the latter was useful in real-world purposes similar to reserving lodges or writing code with out having to socialize with them.
Automated bots are a well-documented downside on X that spam the location and are notably lively within the crypto sphere of affect — plaguing customers with rip-off messages promoting faux tokens, phishing hyperlinks to malicious websites, and pump-and-dump schemes.
Supply: CZ
Associated: Pig butchering scams stole $5.5B from crypto investors in 2024 — Cyvers
X has a large bot downside that simply will not go away
The crypto group has been asking Musk to tackle the bot problem since he purchased the platform in 2022. Nonetheless, little has been completed to curb the problem.
Musk has proposed a number of options to automated bots, together with asking customers to register a bank card that will incur a small charge of a number of cents to impose a value on new account creation, stopping bot farms from mobilizing armies of pretend accounts.
Typically, these bots impersonate crypto influencers and business leaders to hawk faux tokens or redirect customers to malicious websites through phishing links designed to steal funds.
AI-powered chatbots have additionally supercharged romance scams. These scams characteristic a very long time horizon the place a risk actor pretends to have a romantic curiosity of their goal to construct up belief with the sufferer over time.
As soon as belief is sufficiently established, the malicious actor sometimes requests funds from the goal both via feigning monetary issues or pitching a faux funding scheme.
A 2023 study from the Community Contagion Analysis Institute additionally discovered that bots had been liable for manipulating altcoin prices through the use of coordinated posts from a number of bots to artificially pump costs.
Journal: How crypto bots are ruining crypto — including auto memecoin rug pulls
