Threads, Meta’s newly launched microblogging app, has become a target for scammers wasting no time trying to deceive users.

The platform has already drawn the attention of several influential Crypto Twitter users, who are sounding the alarm about imposter accounts lurking on Threads.

On July 8, decentralized finance platform Wombex Finance shared an image of an imposter Threads account pretending to be associated with their project. Wombex Finance promptly alerted users, cautioning them that scammers could potentially operate the account since their project was not present on the Threads platform.

Attention, #WombexWarriors! 🚨 Please be aware that Wombex Finance DOES NOT have an account on the Threads platform. Any account claiming to be Wombex Finance on that platform is fraudulent and is operated by a scammer! To avoid scams, always refer to our official channels:… pic.twitter.com/uU8fc2lTiB

— Wombex (WombexFinance) July 8, 2023

Similarly, nonfungible token (NFT) influencer Leonidas warned their substantial following of over 93,000 on July 7 about the presence of scammers impersonating “large NFT accounts” on Threads. Leonidas took matters into their own hands and created an account on Threads to combat these impersonators.

I and many other large NFT accounts are being impersonated by scammers on Threads. I just created my official Threads account to help: "leonidasord" Please go follow it and spread the word. The scammer has already gotten 140 replies and nobody seems to know.

— Leonidas (LeonidasNFT) July 7, 2023

Another victim of impersonation was Jeffrey Huang, also known as Machi Big Brother on Twitter. On July 6, he shared his Threads profile, only to be alerted by a user that there was already an imposter Threads account masquerading as his Twitter persona.

Yo pic.twitter.com/nVEg5YKLfc

— Machi Big Brother (machibigbrother) July 6, 2023

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So far, the imposter Threads accounts mentioned have refrained from sharing scams or phishing links, with their content primarily focused on the cryptocurrency space.

Twitter has long been a favored platform for crypto phishing scammers, often hacking the accounts of well-known individuals and businesses to disseminate malicious links. These links typically aim to deceive unsuspecting users into divulging sensitive information, such as their #crypto exchange login credentials and cryptocurrency wallet seed phrases, or coaxing them into connecting their wallets to fraudulent smart contracts designed to drain funds.

Threads gaining momentum amidst Twitter’s rate limit controversy

The launch of #Threads by Meta closely followed Twitter’s recent rate limit debacle, which temporarily imposed restrictions on the number of posts users could view in a day. This incident likely contributed to heightened interest in alternative microblogging platforms.

Threads app, introduced on July 5, has experienced a surge in sign-ups, surpassing 98 million users within days. Despite this promising start, the platform still has a long way to go to catch up to Twitter’s estimated 450 million user base.

Adam Mosseri, the head of Instagram, clarified that Meta does not intend to replace Twitter but instead aims to create a public square for communities on #Instagram that never fully embraced #Twitter . It also seeks to cater to communities on platforms like Elon Musk’s, providing a less contentious space for conversations.

The Threads application currently lacks several key features, such as direct messages, a “following” feed, a complete web version, and a chronological feed.

Read more: Ripple Labs to tokenize the multi-billion dollar real estate industry#GOATMoments

#GOATMoments Tesla boss Elon Musk, who used to be Twitter’s Chief Executive Officer (CEO) before passing the baton to Linda Yaccarino, is trying to woo Twitter users into subscribing to the Twitter Blue package.

According to Musk, many accounts on the blue-bird app platform can earn thousands of dollars per month in advertising revenue sharing if they become verified subscribers. To subscribe to this package, interested users are required to pay $7 per month in an annual plan.

Many accounts on this platform can earn thousands of dollars per month in advertising revenue sharing if they become verified subscribers!

Takes 2 mins to become a verified subscriber for $7/month (annual plan) at https://t.co/JUTlIcVsSe

— Elon Musk (@elonmusk) July 22, 2023

Elon Musk Introduces Twitter Blue Subscription Fee

Since he acquired Twitter, Musk has implemented a number of changes including some policy adjustments. Twitter Blue tick was initially reserved for journalists, celebrities, brands, government establishments and companies after they have been verified. However, the billionaire started a system where anybody can get the blue tick so long as they can pay for it.

While Android users are required to pay $8 per month, iPhone users are billed to pay $ 11 every month.

The difference in subscription fees is because Apple takes 30 percent revenue from the iOS App. Some of the perks of subscribing to this plan are a blue checkmark after verification, edit tweets option, 1080P video upload, and reader mode. On the other hand, business accounts get a golden official label while government accounts get a grey checkmark.

According to Twitter, “Subscribers will be able to change their handle, display name or profile photo. But if they do, they will temporarily lose the Blue checkmark until their account is reviewed again. It was later shelved after several fake accounts surfaced on the platform, copying brands and celebrities.”

Netizens Migrate to Meta’s Threads

Some of these changes including the recent rate limit on viewed posts have pushed some netizens to migrate to Threads, a newly launched app from Meta Platforms. Threads came with a rush and garnered more than tens of millions of users in less than 3 days of its launch.

#Twitter has expressed some concerns about the launch of #Threads and has been threatening to sue.

A letter sent by Quinn Emanuel, trial lawyers representing X Corp, to Mark Zuckerberg implied that Meta has “engaged in a systematic, willful and unlawful misappropriation of Twitter’s trade secrets and other intellectual property.”

Should this Copyright issues remain unaddressed, #Musk and his lawyers are threatening to go to court.#Binanceturns6

This is one of the most interesting insights I've read so far from some random Crypto Bros.

Read it all 👇

#Threads #cryptooinsigts $SOL $ETH $BTC