Elon Musk's X to Take Drastic Measures Against Crypto Scam

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Elon Musk's social media platform X is taking very bold measures to reduce cryptocurrency scams on its site. As highlighted by Wu Blockchain, Head of Product at X, Nikita Bier stated this recently as a way to limit exploitation of X accounts that previously lacked any crypto activities. Advertisement X introduces auto-lock, verification for first-time crypto posts According to Bier, X is introducing a new anti-scam policy known as "auto-locking and verification" for any account posting about cryptocurrency for the first time in its history. This move is intended to prevent malicious attackers who hack the accounts of celebrities or influencers from exploiting it for crypto scams. Nikita Bier, Head of Product at X, stated that in response to a surge in crypto scams and phishing activity, the platform is implementing a new security measure: if an account posts about cryptocurrency for the first time, it will be automatically locked and required to complete… pic.twitter.com/hlddg0qlMh — Wu Blockchain (@WuBlockchain) April 2, 2026 In the past, hackers have taken over social media accounts of celebrities to suddenly promote scam tokens or engage in sending phishing mail to unsuspecting followers. With this new feature, when such moves are initiated by the hacker, X will automatically lock the account and demand "identity verification" before the post can proceed. Bier claims that this could remove up to 999% of the economic incentive for malicious actors who employ this scam method. Beyond celebrity accounts, there is also an increase in the number of new X accounts being created specifically to promote crypto scams. Many users have been tricked into sending money or revealing private wallet information. However, with this new policy, hackers might be discouraged from taking over existing accounts or creating fake accounts to scam. This is because once the account is auto-locked, without identity verification, it will remain "temporarily locked." The development could ensure that scam attempts fail immediately after they are attempted, even without the victim initiating any complaints of a compromised account. X criticizes Google over phishing protection Bier also took a swipe at Google, stating that this policy became necessary to protect X users since the tech giant was not "doing enough to stop the phishing mails." You Might Also Like Fri, 04/03/2026 - 08:37 Dogecoin (DOGE) More Bullish Than It Looks: 4x Long Pressure Builds By Arman Shirinyan He is implying that email providers like Gmail are not taking proactive steps to stop phishing scams, hence, X has decided to add its own protection layer. The U.S. Federal Bureau of Investigation (FBI) in 2024 also identified "pig butchering" as one of the most prevalent forms of crypto scam . The FBI explained that attackers generally create fake online identities, either by stealing photos or using AI-generated pictures to trick potential victims on social media platforms or dating sites. Malicious attackers have always posed a threat to crypto users, with different stakeholders evolving different ways to limit their attack frequencies. In December 2025, Binance founder Changpeng Zhao suggested tackling "poisoning scams" through adoption of real-time blacklist queries. #Elon Musk