Scammers are aggressively posing as Ethereum co-founder Vitalik Buterin on verified Twitter accounts to mislead investors as a result of the excitement around The Merge.
The main issue with Twitter is bots, which have been repeatedly mentioned by prominent businessmen, including one of the richest men in the world, Elon Musk. By utilizing verified profiles, scammers have increased efforts to hide their malicious intentions.
Over six verified Twitter accounts that presently mimic Buterin’s name, profile image, and description have been discovered. In order to get access to investors’ cryptocurrency wallets, the accounts have been actively advertising fake Ether (ETH) giveaways.
Observing the Twitter handle, sometimes referred to as the username of the profiles, is the best approach to spot fake accounts. It is worth noting that, phony Twitter accounts imitating Changpeng Zhao, CEO of Binance, have grown recently, requiring Musk to publicly address the issue.
Ethereum anticipated merge
The Ethereum Foundation has often been impersonated by scammers looking to acquire the trust of the general public. Investors who are often unaware of frauds during the hype, such as bull runs and important events like network upgrades, are particularly simple to con by evil actors.
The objective of this piece is to provide a cautionary tale to cryptocurrency investors so they don’t fall victim to attacks and scams that are intended to extort their funds.
Google, which is also anticipating The Merge, added a countdown meter showing how long it will take for the Ethereum blockchain to switch from a proof-of-work (PoW) consensus method to a proof-of-stake (PoS).
Cryptopolitan previously covered an article on the implications the anticipated merger might have on Bitcoin. One of the most anticipated developments that may significantly alter one of the biggest blockchain systems, namely Ethereum, is the Ethereum merge. Ethereum will use less energy and become more energy-efficient as the merger occurs.
One of the primary causes is the challenges other blockchain systems are experiencing as it becomes more energy-efficient. Given that Bitcoin runs via the Proof of Work technique, which is too expensive for it, it may be directly impacted.
Cryptopolitan however noted in a recent article that Bitcoin is still gaining ground as Ethereum lags behind despite the “overhyped” merge.