Crypto scams and phishing attacks are a significant threat to any industry. These scams are not new, but they are growing smarter and faster. While specifying the crypto industry alone, hackers, manipulators, and scammers have unanimously intruded into the space, draining millions worth of digital assets.
To lessen the impact of crypto hacks on the X social media platform, Nikita Bier, Head of Product at X, has announced plans to implement new security measures.
Auto-lock and verify: New security measures by X
The X executive is, in fact, stressing the need for a crypto scam-free atmosphere, specifically targeting accounts that post about crypto for the first time. In simpler terms, if you are posting crypto-related content on X, the platform will automatically lock the post and request a complete identity verification.
“We are in the process of implementing auto-locking + verification if a user posts about cryptocurrency for the first time in the history of their account”, said Nikita in an X post.
And, the final intended result is to decrease nearly 99% of hacking activities, since Google is not doing anything to stop the phishing emails, added Nikita. Following the announcement, the X community praised the platform’s move to curb crypto scams.
While Nikita’s comment on Google may spark a discussion, it shows a genuine reality. Online platforms require coordination across different layers and platforms to combat scams. For example, email providers, social media networking platforms, and other platforms should coordinate with each other to block illegal activities.
However, X’s new feature solves only one piece of the puzzle, but it is the part that has been highly vulnerable.
How can X’s move prevent crypto scams?
X platform’s move is indeed significant as crypto is witnessing major attacks every now and then. As you know, scams have surged over the past few years, with 2025 showing a high number of crypto hacks. Besides, this year began with several DeFi protocol hacks, including the recent $285 million Drift protocol hack.
As such, cyber criminals also intrude into X accounts of crypto professionals or crypto platforms/firms, and impersonate them to trick the audience. Even phishing links also lure users into believing websites are legitimate.
X executive necessitates a new rule only for new X accounts because such accounts are typically more into faking activities and impersonating a genuine and reliable blockchain platform.
You might have heard of fake giveaways and airdrops, exactly when a famous blockchain platform is about to start its airdrops. Scammers create new X accounts for their routine activities and get millions from innocent users. To note, such crimes are not only found on X, but also spread across other social media platforms.
Despite growing awareness, crypto scams continue to thrive, mainly because they capitalize on urgency, trust, and visibility.
Why do crypto scams continue to grow?
As mentioned, crypto scams are becoming ubiquitous from every month to every week. And, there are a few technical, structural, and human reasons for the tremendous growth in crypto scams.
Irreversible action makes crypto more suitable for hackers. For instance, once a cryptocurrency is sent, it is gone; there is no way to reverse the payment and get back the funds. This is an alluring feature for scammers because once the digital funds are drained, there are fewer possible ways to get them back.
Secondly, crypto wallet addresses are pseudonymous; no one knows the real name of the sender and receiver. Only the wallet addresses are exposed. This helps scammers to move funds across wallets and even bridge them to multiple blockchain platforms.
Social media platforms play an important role in promoting impersonated or fake accounts. It does not mean that social media platforms are intended to enhance insecure practices, but fake account holders easily expand their services on social media since they easily get more audiences on platforms like X, Discord, and Telegram
FOMO, or fear of missing out, also leads to increased crypto hacks. When a new project goes live, people run behind it to quickly invest in it without doing proper research. This is the most awaited moment for the scammers to cheat users who rush to earn a profit.
Will X’s move make a difference?
X’s move is highly notable and appreciable because it can crack down on a predictable pattern on social media platforms. The new feature matters a lot when official and normal X accounts get hacked. If the accounts start pouring in a lot of urgent, flashy crypto content or posting a phishing link, the auto-lock feature can help stop the attack from further spreading.
Some scammers use sophisticated steps for exploits, while most of them do not. In such cases, the new X feature will add friction to their hacking process and can win over them.
Limitations to note
However, it does not mean that scammers will always fail, meaning there could be possible limitations for the auto-lock and verify feature. The initiative is promising, but identity verification systems can sometimes fail if it is very complex. It might stop reliable users from being part of crypto-related discussions.
What’s more, scammers try different mechanisms to thrive. If the auto-lock feature blocks them, they may use different methods to intrude into attacks.
At a broader level, X’s initiative is a growing recognition that social platforms should be responsible in addressing crypto-related security issues. As digital assets become mainstream, financial activities and social media are deeply entangled, creating new risk factors. Besides, the integration of AI technology also creates security concerns, apart from its genuine use cases.
By focusing on prevention, X is actively leaping in a direction that many believe is too late. Although the new feature might achieve its ambitious goal of reducing hacking by 99%, it is better to wait and see. Whatsoever, a modest decrease in hacks using X’s new platform is a great relief for crypto users.
Eventually, no single remedy can completely wipe out scams or hacks from the crypto industry. However, slight attempts can somehow reduce the number and intensity of scams. Platforms, including socials, should build or refine their detection systems, and tech space should collaborate with multiple platforms to address flaws at every stage.
As such, initiatives like that of X matter a lot since all eyes would watch for how the social media platform will deliver its promising feature.
