The cryptocurrency communities on X have recently seen an increase in the number of flagged accounts. Luckily, the new owner of the platform, Elon Musk, recognizes this and attributes it to a mistake by a antispam bot.
The cryptocurrency communities on X have recently seen an increase in the number of flagged accounts. Luckily, the new owner of the platform, Elon Musk, recognizes this and attributes it to a mistake by a antispam bot.
The issue came to light when a flood of legitimate crypto accounts, usually bustling with activity due to the high-engagement nature of the community, were mistakenly flagged as spam. These accounts often share a high volume of responses and frequently use hashes and cashtags, behavior that unfortunately mirrors that of spambots, triggering the platform’s automated anti-spam measures.
This misidentification has broader implications for the crypto community on Twitter. Top accounts, especially those associated with large, active communities like Shiba Inu and Floki, have seen a decline in followers as the platform’s algorithms struggle to differentiate between genuine engagement and bot-like activity. Many of these communities have a significant bot presence, further complicating the platform’s ability to accurately flag only inauthentic accounts.
Despite these challenges, Twitter remains the leading social media platform for cryptocurrency dialogue and dissemination, surpassing other platforms such as Reddit and TikTok by a considerable margin. Its real-time nature and global reach make it a hotspot for announcements, discussions, and exchange of ideas within the crypto world.
However, since Elon Musk’s acquisition, Twitter has seen some user attrition, with certain segments of the user base moving to alternative platforms.
As the platform works to rectify errors caused by the overzealous anti-spam bot, the incident shows how problematic the battle against bots and spam accounts is. Accounts dedicated to finance and cryptocurrencies could tone down the aggressiveness of their posting strategies to avoid problems in the future.