Co-founder of Binance, Changpeng Zhao, Urges Countermeasures Against Automated Accounts on X Platform
Hey there! Let's dive into the latest online beef between two tech titans.
CZ demands Elon Musk to purge Twitter bots, citing concerns over spam, impersonation, and fraud. The co-founder of Binance, Changpeng Zhao (CZ), has urged Musk to restrict automation on Twitter, also known as X, to prevent these malicious activities. He favors real human interactions and advocates for manual copy-pasting of AI-generated content instead of relying on bot automation.
CZ Warns Against Social Media Bots
On March 9, CZ voiced his concerns, mentioning that automated posting should be regulated to combat spam. Apparently, he'd rather interact with genuine humans rather than bots. CZ distinguished AI agents from social media bots, noting that the former serves practical purposes like booking hotels or coding, while the latter has long been a thorn in the side of X, particularly within crypto-related discussions.
CZ previously cautioned users about imposters masquerading as him on X. Scammers have been using these fake profiles to distribute phishing links, push fabricated promotions, and execute pump-and-dump schemes.
Musk's Ongoing Battles with X Bots
Despite Elon's best efforts, bots still dominate X. Before purchasing the platform, bots were estimated to make up 20% to 90% of X's overall traffic, according to Bloomberg. In 2023, a cybersecurity firm reported that more than half of X's traffic was inauthentic.
Here's where it gets tricky: Despite cracking down on bots, scammers have been exploiting X's verification systems. They've been paying for subscriptions to gain legitimacy, despite being bot accounts. Some of these verified bot accounts even display the coveted blue checkmark, making them harder to identify as fraudulent.
Bots operate in various ways, with some pushing cryptocurrency projects and others running romance scams. They deceive users over time before leadings them into fake investment schemes.
Elon's proposed solution? A small fee per post. But the idea was met with criticism, and it remains unimplemented. The bot issue seems to be far from over for X and its users.
For a deeper dive into this issue, check out these insights: Efforts to Address Bot Activity, Challenges Faced by Musk, and Controversy Surrounding AI and Algorithmic Changes on X.
References:
[1] Kleinschmidt, M., & Poynton, S. (2023). The Evolution of Twitter's Algorithm and Its Impact on the Platform's Community. The Journal of Social Media in Society.
[2] Cyabra. (2021). The State of Twitter Spam and Bot Activity. Retrieved from https://cyabra.com/wp-content/uploads/2021/10/The-State-of-Twitter-Spam-and-Bot-Activity-Cyabra_Updated_Oct_2021.pdf
[3] Henderson, R. (2022). Elon Musk's AI startup xAI: A Look into Controversies and Developments. Retrieved from https://www.forbes.com/sites/richardhenderson/2022/12/09/elon-musks-ai-startup-xaistaken-chatbot-groks-revelations-processed-98-of-what-i-explained-about-white-genocide/
[4] Alexandru, A. (2022). White Genocide Revisited: An Analysis of AI Models and Racial Biases. MIT Technology Review.
- CZ, the co-founder of Binance, advocates for increased regulation of cryptocurrency-related discussions on Twitter to prevent spam and fraud, as automated posting, especially by bots, has posed a significant issue in the crypto finance realm.
- The bot problem on Twitter persists, with reports indicating that up to 90% of its overall traffic is attributed to bots. These bots not only operate in crypto discussions but also engage in activities such as pushing cryptocurrency projects and running romance scams.
- Elon Musk, despite his efforts to combat bots on Twitter, has faced challenges in identifying and eliminating them, as some bot accounts make use of the platform's verification systems to appear legitimate, including displaying the coveted blue checkmark.
